Dear NBER Board Members, Researchers, and Staff -
I hope that you will join me in congratulating Research Associates
William Nordhaus and Paul Romer, who this morning were awarded the 2018
Nobel Memorial Prize in Economic Sciences for their path-breaking
research on integrating innovation and climate into the study of
economic growth. The Royal Swedish Academy of Sciences, in announcing
the prize, explained that this year's laureates "have significantly
broadened the scope of economic analysis by constructing models that
explain how the market economy interacts with nature and knowledge."
Their research has enriched our understanding of economic growth by
recognizing that the rate of technical change can be affected by market
forces, and that economic growth may have feedback effects on
growth-affecting natural resource constraints.
The Academy released both a high-level summary of their contributions:
https://old.nobelprize.org/eco-popular.pdf?_ga=2.83549599.827511259.1538993555-1240008204.1538993555
as well as a longer summary of the scientific contributions that
underlie this award:
https://old.nobelprize.org/eco-sci.pdf?_ga=2.109950348.827511259.1538993555-1240008204.1538993555
William Nordhaus is Sterling Professor of Economics at Yale University,
and a Research Associate in four NBER programs: Economic Fluctuations
and Growth (EFG), Environment and Energy,
Productivity/Innovation/Entrepreneurship, and Public Economics. His
initial NBER affiliation dates to the late 1960s, and he has been a
Research Associate since 1979. Paul Romer is a Professor of Economics
at the NYU Stern School of Business, where he directs the Urbanization
Project. He is a Research Associate in the NBER's EFG program, which he
joined in 1987, and he recently served as Chief Economist of the World
Bank.
All best wishes.
Jim Poterba
Received on Mon Oct 08 2018 - 07:06:22 EDT
