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Nobel Prize in Economics Honors Shock-Management Research

By Drooid · Oct 13, 2026, 4:02 PM UTC · How we work

Summary

Story summary

Robert E. Hall and Michael Woodford received the Nobel memorial prize in economics for shock-management research.
The Royal Swedish Academy of Sciences announced the award in Stockholm.
Hall’s 1982 paper with Fredric Mishkin showed 80 % of households base spending on future income expectations.
Woodford’s work demonstrated that firms set prices according to expected future interest-rate movements.

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Story summary

Robert E. Hall and Michael Woodford received the Nobel memorial prize in economics for shock-management research.
The Royal Swedish Academy of Sciences announced the award in Stockholm.
Hall’s 1982 paper with Fredric Mishkin showed 80 % of households base spending on future income expectations.
Woodford’s work demonstrated that firms set prices according to expected future interest-rate movements.