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Economics Nobel 2026: Robert Hall and Michael Woodford win for the models central banks use to fight recessions and inflation
American economists Robert E. Hall of Stanford and Michael Woodford of Columbia have won the 2026 Nobel memorial prize in economic sciences "for microeconomic foundations of macroeconomic stabilisation". Their work underpins the New Keynesian models that central banks and finance ministries around the world use to set interest rates and respond to shocks. What they found, in plain language, and why it matters to household budgets.