William Nordhaus and Paul Romer:
Nobel prize in economics for 2018 was won by William Nordhaus and Paul Romer for their work on climate change and sustainable economic growth.
William Dawbney Nordhaus is an American economist and Sterling Professor of Economics at Yale University. He is best known for his work in economic modelling and climate change. He is, together with Paul Romer, one of the laureates of the 2018 Nobel Memorial Prize in Economic Sciences. Nordhaus received the prize “for integrating climate change into long-run macroeconomic analysis”.
Nordhaus was born in Albuquerque, New Mexico, the son of Virginia (Riggs) and Robert J. Nordhaus, who co-founded the Sandia Peak Tramway. His father was from a German Jewish family. Nordhaus graduated from Phillips Academy in Andover and subsequently received his BA and MA from Yale in 1963 and 1973, respectively.
Among many honors, he is a Member of the United States National Academy of Sciences and an Elected Fellow of the American Academy of Arts and Sciences. He has been a foreign member of the Royal Swedish Academy of Engineering Sciences since 1999.
Paul Michael Romer is an American economist, a pioneer of endogenous growth theory, and a recipient of the Sveriges Riksbank Prize in Economics in memory of Alfred Nobel. He was Chief Economist and Senior Vice President of the World Bank until he resigned in January 2018 following a controversy arising from his claim of possible political manipulation of Chile’s “ease of doing business” ranking.He had been on leave from his position as professor of economics at the Stern School of Business at New York University.
Prior to New York University, Romer was a professor of economics at the University of Chicago, the University of California, Berkeley, and the Stanford University’s Graduate School of Business. Romer was a senior fellow at Stanford’s Center for International Development, the Stanford Institute for Economic Policy Research, the Hoover Institution, as well as a fellow at the Center for Global Development.
