Nobel Economics Prize 2026 Explained | Why Robert Hall & Michael Woodford Won In 2026
By NDTV
The 2026 Nobel Prize in Economics has been awarded to American economists Robert Hall and Michael Woodford for research that transformed how economists understand inflation, unemployment and economic stability. Their work laid the foundation of modern New Keynesian economics, one of the most influential frameworks…
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Inflation
The rate at which the general level of prices for goods and services rises over time, usually measured over twelve months.
When prices rise faster than wages, households can buy less with the same income, and central banks may raise interest rates in response.
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