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STOCKHOLM (Reuters) – Americans William Nordhaus and Paul Romer won the 2018 Nobel Prize for their work on integrating climate change and technological innovation into economic analysis. , announced Monday the Royal Swedish Academy of Sciences.
Nordhaus, of Yale University, was the first person to create a quantitative model describing the interaction between the economy and the climate, the academy announced.
Romer, from the Stern School of Business at New York University, showed how economic forces govern the willingness of companies to produce new ideas and innovations, thus laying the groundwork for a new development model. called the endogenous growth theory.
"Their findings have greatly expanded the field of economic analysis by building models that explain how the market economy interacts with nature and knowledge," said the academy in a statement.
Of value of 9 million Swedish krona ($ 1 million), the economy award was created in 1968. It was not part of the initial five-award group defined in the 1895 will of Swedish industrialist Alfred Nobel.
"This year's laureates do not provide conclusive answers, but their results have brought us much closer to answering the question of how we can achieve sustainable and sustainable global economic growth," he said. Academy.
The Nobel Prizes in Physiology or Medicine, Physics, Chemistry and Peace were awarded last week.
This year's awards have distinguished themselves for two reasons.
The debates were eclipsed by the absence of the literature prize, postponed to give the Swedish Academy time to restore public confidence after a scandal of sexual assault.
Three women received a Nobel Prize, an unusually high number for a single year.
Graphic Nobel Prize http://tmsnrt.rs/2y6ATVW
(Report by Simon Johnson, Niklas Pollard, additional report by Daniel Dickson, Helena Soderpalm and Anna Ringstrom in Stockholm, edited by John Stonestreet)
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