โ Robert Hall โand Michael Woodford on Monday won โthe 2026 Nobel economics prize for their work into how monetary and fiscal policy can help stabilise fluctuations in the economy.
The pair were recognised "for microeconomic foundations of โmacroeconomic โstabilisation", โ the Royal Swedish Academy of โSciences said on Monday.
The โ prestigious award, formally known as the Sveriges Riksbank โPrize in โEconomic Sciences in Memory of Alfred Nobel, is โthe final prize to โbe given out this year and is worth โ12 million Swedish crowns ($1.2 โmillion).
The economics โ prize, first awarded in 1969, is not one of the original five awards created in the โ1895 will of industrialist and dynamite inventor Alfred โNobel, but was established by Sweden's central bank.
The majority of previous laureates have been from the United States. Only three โwomen have ever won, most recently Claudia Goldin in 2023 for work on โhow gender has affected pay and employment over time in the United States.
(FRANCE 24 with Reuters and AFP)
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