By Hanna Ziady, CNN
American professors Robert E. Hall and Michael Woodford have won the 2026 Nobel Prize in economics for developing new economic models that help governments and central banks think about how to stabilize their economies amid external shocks.
The Royal Swedish Academy of Sciences awarded the prize in Stockholm on Monday.
“The laureates have helped us smooth out the economy’s peaks and troughs,” the academy said in a statement.
The prize, officially known as the Sveriges Riksbank Prize in Economic Sciences, was not instituted by Alfred Nobel. It was established by Sweden’s central bank in 1968 and is awarded in memory of Nobel.
– This is a developing story and will be updated.
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