Robert E. Hall, a senior fellow emeritus at the Hoover Institution and emeritus Stanford economics professor, has been named a recipient of the 2026 Nobel Memorial Prize in Economic Sciences. He shares the roughly $1.2 million award with economist Michael Woodford.
The Nobel Committee recognized the pair for building macroeconomic models from microeconomic foundations, explaining how the collective actions of households and firms affect inflation, production, and consumption. Hall called the news "a wonderful surprise" and credited his colleagues and coauthors, including his wife, economist Susan Woodward.
Hall's career spans academia and policy advice, including service at MIT and Berkeley and advisory roles for the Justice Department, Treasury, and Federal Reserve. He is also known for promoting the flat tax with Alvin Rabushka and for chairing the National Bureau of Economic Research's Business Cycle Dating Committee.