Two American Economists Awarded Nobel Prize for Work on Economic Cycles
Two American economists have won the Nobel Prize in economics for their work on smoothing economic boom-bust cycles, with the announcement made at the Royal Swedish Academy of Sciences in Stockholm.
Grand Rapids Kalamazoo Battle Creek, MI, October 12, 2026 — The Nobel Prize in Economic Sciences has been awarded to two American economists for their groundbreaking research into managing the fluctuations inherent in economic cycles. The announcement was made today at the Royal Swedish Academy of Sciences in Stockholm.
The laureates’ work focused on developing theoretical frameworks and practical strategies aimed at mitigating the extreme swings between economic booms and busts. Their research provides insights into how economies can achieve greater stability, potentially leading to more predictable growth and reduced periods of recession or overheating.
While the specific names of the economists and further details about their awarded contributions were not immediately available in the announcement, the prize recognizes their significant impact on the field of economics. The Nobel Memorial Prize in Economic Sciences, established by Sveriges Riksbank in memory of Alfred Nobel, is awarded for outstanding contributions to the field of economics.
The study of economic cycles, often referred to as business cycles, has long been a central theme in economic theory. These cycles are characterized by periods of expansion (booms) followed by periods of contraction (busts). Understanding and potentially smoothing these cycles is crucial for policymakers seeking to maintain stable employment, control inflation, and foster sustainable economic growth.
The work of these economists is expected to inform future economic policy decisions and academic research. The Royal Swedish Academy of Sciences typically highlights the specific achievements of the laureates in detail following the announcement, providing context on how their contributions have advanced economic understanding and practice. The official ceremony for the Nobel Prizes will be held later this year.
Further details regarding the recipients and the precise nature of their work will be released by the awarding committee.
Story summarized from the original created by Scott Horsley on www.npr.org, see more information here.
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