The Aporia · Nobel prize in economics goes to 2 Americans

Nobel prize in economics goes to 2 Americans

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Nobel prize in economics goes to 2 Americans. (2026, October 12). CBS News. https://www.cbsnews.com/news/nobel-prize-economics-2-americans/

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Quick Summary

American economists Robert E. Hall and Michael Woodford received the Nobel memorial prize in economics on Monday for their work developing models that aid governments and central banks in managing economic shocks. The Royal Swedish Academy of Sciences awarded them for providing a theoretical foundation for stabilization measures during economic crises. Each laureate will receive 12 million Swedish kronor, equivalent to about $1.2 million.

Written by AI on 2026-10-12, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

Story summary

Robert Hall from Stanford University and Michael Woodford from Columbia University have been awarded the 2026 Nobel Prize in Economics "for microeconomic foundations of macroeconomic stabilisation," announced by the Royal Swedish Academy of Sciences on October 12, 2026. The prize recognizes their work on developing new models that improve policymakers' ability to manage economic shocks and reduce peaks and troughs in economies. Each laureate received $1.2 million (12 million Swedish crowns), making it the final Nobel Prize for this year. Hall’s affiliation with Stanford University, California, and Woodford's connection to Columbia University, New York, underscores their contributions to economic theory and practice globally. The award highlights the advancement of stabilisation policies over traditional models that struggled during historical crises like the 1970s oil shock.

Written for “Nobel Economics Prize 2026” on 2026-11-03, grounded in this article and the 10 other(s) covering the same event.

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Uncertain

0 of 11 hedged ("reportedly", "may", "according to")

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not political

takes no side on a contested political question

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66/100

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Economy/Business

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CBS News · 4465 article(s) · 6 correction(s) detected

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Who wrote this

No reporter is named on this article.

Topics

American New York Stanford University Stockholm The Royal Swedish Academy of Sciences

Subjects

Alfred Nobel PERSON · 2× New York GPE · 2× Nobel ORG · 2× Stockholm GPE · 2× Woodford GPE · 2× American NORP · 1× Hall PERSON · 1× Michael Woodford PERSON · 1× Robert E. Hall PERSON · 1× The Royal Swedish Academy of Sciences ORG · 1×

Narrative

Woodford spoke to the committee by phone Monday from New York, saying: "It's a tremendous honor, it's a surprise." "The laureates' work has provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the world," John Hassler, chair of the Committee for the Prize in Economic Sciences, said in a news release.

framing: assertive · carried by 1 article(s) · first seen 2026-10-12

2026-10-12 · CBS News

Nobel prize in economics goes to 2 Americans · assertive framing

Claims (11 extracted, 0 hedged)

American-born economists Robert E. Hall and Michael Woodford won the Nobel memorial prize in economics on Monday for their work on models that have helped governments and central banks manage economic shocks. asserted

governments → bear → shocks

The Royal Swedish Academy of Sciences announced the winners in Stockholm, saying the winners were being honored "for microeconomic foundations of macroeconomic stabilisation." "The laureates have helped us smooth out the economy's peaks and troughs," the academy said in a statement. asserted

academy → announce → statement

Hall is affiliated with Stanford University in California, and Woodford with Columbia University in New York. asserted

Hall → affiliate → York

Hassler → speak → release

"With them, we are better equipped to deal with shocks in the economy, such as energy crises or sudden changes in how much households consume. asserted

households → equip → much

The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. asserted

prize → know → Nobel

Last year, three researchers who study business innovation won for explaining how new products and inventions promote economic growth and human welfare, even as they leave older companies in the dust. asserted

they → study → dust

The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. asserted

prize → know → Nobel

The central bank established it in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the five Nobel Prizes. asserted

who → establish → Prizes

Nobel purists stress that the economics prize is technically not a Nobel Prize, but it is always presented together with the others on Dec. 10, the anniversary of Nobel's death in 1896. asserted

it → stress → 1896

Nobel honors were announced last week in medicine, physics, chemistry, literature and peace. asserted

honors → announce → medicine