{"id":563,"date":"2026-10-12T21:05:55","date_gmt":"2026-10-12T21:05:55","guid":{"rendered":"https:\/\/bugleblast.com\/?p=563"},"modified":"2026-10-12T21:06:55","modified_gmt":"2026-10-12T21:06:55","slug":"nobel-economics-2026-robert-hall-michael-woodford","status":"publish","type":"post","link":"https:\/\/bugleblast.com\/?p=563","title":{"rendered":"THE BOOM-AND-BUST TAMERS WIN THE ECONOMICS NOBEL! | Stanford\u2019s Robert Hall and Columbia\u2019s Michael Woodford built the models central banks use to smooth the ride"},"content":{"rendered":"<p>The last Nobel of the season just went to the people who try to keep your economy from flipping its lid. The Royal Swedish Academy of Sciences awarded the 2026 economics prize to <strong>Robert E. Hall<\/strong> of <strong>Stanford<\/strong> and <strong>Michael Woodford<\/strong> of <strong>Columbia<\/strong> \u201cfor microeconomic foundations of macroeconomic stabilisation,\u201d <a href=\"https:\/\/www.nobelprize.org\/prizes\/economic-sciences\/2026\/press-release\/\">the Nobel Prize press release<\/a> said Monday.<\/p>\n<p>Translation: instead of building economic models on loose statistical links between inflation, output and consumption, the pair built them from the ground up, on how millions of households and businesses actually make forward-looking decisions. The Academy says those models make well-timed fiscal and monetary moves better at shaving down the economy\u2019s peaks and troughs.<\/p>\n<p>They also showed how what central banks and governments <em>say<\/em> shapes people\u2019s view of the future and can nudge the economy in the right direction, <a href=\"https:\/\/www.cnbc.com\/2026\/10\/12\/nobel-economics-prize-winner-woodford-hall.html\">CNBC<\/a> reported. \u201cWith them, we are better equipped to deal with shocks in the economy, such as energy crises or sudden changes in how much households consume,\u201d prize committee chair John Hassler said.<\/p>\n<p>Hall, born in 1943 in Palo Alto, and Woodford, born in 1955 in Chicopee, Massachusetts, both earned PhDs at MIT. They\u2019ll split <strong>12 million Swedish kronor<\/strong>, about <strong>$1.2 million<\/strong>.<\/p>\n<p>Energy shock, war in the Gulf, wobbly bond market \u2014 the Academy picked a very on-the-nose year to hand out a medal for smoothing the ride.<\/p>\n<p><strong>Sources:<\/strong> <a href=\"https:\/\/www.nobelprize.org\/prizes\/economic-sciences\/2026\/press-release\/\">NobelPrize.org \u2014 Prize in Economic Sciences 2026 press release (Oct. 12, 2026)<\/a> \u00b7 <a href=\"https:\/\/www.kva.se\/en\/news\/the-prize-in-economic-sciences-2026\/\">Royal Swedish Academy of Sciences (Oct. 12, 2026)<\/a> \u00b7 <a href=\"https:\/\/www.cnbc.com\/2026\/10\/12\/nobel-economics-prize-winner-woodford-hall.html\">CNBC \u2014 Nobel prize in economics awarded to Robert E. Hall and Michael Woodford (Oct. 12, 2026)<\/a><\/p>\n<p><em>Featured image: AI-generated editorial illustration by Bugle Blast.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stanford\u2019s Robert Hall and Columbia\u2019s Michael Woodford built the models central banks use to smooth the ride<\/p>\n","protected":false},"author":1,"featured_media":564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/bugleblast.com\/wp-content\/uploads\/2026\/10\/bb-nobel-economics-hall-woodford-1012.jpg","_links":{"self":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=563"}],"version-history":[{"count":1,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/563\/revisions"}],"predecessor-version":[{"id":565,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/563\/revisions\/565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/media\/564"}],"wp:attachment":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}