Economics

Nordhaus, Romer Win Nobel for Thinking on Climate, Innovation

U.S. professors addressed most pressing economic questions
Academy says they integrated climate, innovation with growth

Citigroup’s Willem Buiter, who was taught by Nordhaus at Yale, reacts to the announcement.Source: Bloomberg

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By Jonas O Bergman and Rich Miller

October 8, 2018 at 9:57 AM UTC

Updated on

October 8, 2018 at 4:01 PM UTC

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William D. Nordhaus of Yale University and Paul M. Romer of New York University’s Stern School of Business won the 2018 Nobel Prize in Economics for bringing long-term thinking on climate issues and technological innovation into the field of economics.

The two Americans “have designed methods for addressing some of our time’s most basic and pressing questions about how we create long-term sustained and sustainable economic growth,” the Royal Swedish Academy said on Monday.