Americans Robert Hall and Michael Woodford win the Nobel economics prize for work on stabilising economies
Robert E. Hall and Michael Woodford won the 2026 Nobel memorial prize in economics, announced on Monday 12 October in Stockholm (Reuters, AP, New York Times, CBS News, USA Today, Japan Times). Reuters and USA Today described the work as being about stabilisation, and PBS NewsHour as studying how to deal with economic shocks. DailyDrop has seen the citation only in headlines.
The prize recognises research on keeping economies steady after shocks, a question every central bank and finance ministry faces, including when oil prices jump.
Central banks such as the Central Bank of Kenya are judged on this: steadying prices and jobs. Hall is generally associated with research on unemployment and recessions and Woodford with how central banks guide interest rates.
A timely prize in a week when oil and Middle East risks are testing central banks.
DailyDrop Kenya edition No. 9 · Morning · TUE., OCT. 13, 2026