Two Americans win Nobel Prize in Economics for work on boom-bust cycles

Two Americans have won the Nobel Prize in Economics for their work on how to smooth boom-and-bust cycles to limit unemployment and inflation.

<img src='https://npr.brightspotcdn.com/dims3/default/strip/false/crop/7794x5310+0+0/resize/7794x5310!/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2F26%2F78%2Fddfdc1d243f09e93115d2fbd57d2%2Fgettyimages-2299286819.jpg' alt='U.S. economists Robert E. Hall and Michael Woodford are announced as the winners of the 2026 Nobel prize in economics at the Royal Swedish Academy of Sciences in Stockholm on Monday.'/><p>Two Americans have won the Nobel Prize in Economics for their work on how to smooth boom-and-bust cycles to limit unemployment and inflation.<br><br></p><p>(Image credit: JONATHAN NACKSTRAND/AFP via Getty Images)</p><img src='https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=nx-s1-5996634' />