William Nordhaus and Paul Romer were awarded the Nobel Prize in Economics
Both economists highlighted their contributions to climate change and technological innnovations in long-term macroeconomic analyzes
On Monday, the Swedish Academy of Sciences awarded the Nobel Prize in Economics to William D. Nordhaus and Paul M. Romer for their contributions to climate change and technological innnovations in long-term macroeconomic analysis.
In particular, Nordhaus was awarded thanks to its achievement in integrating climate change into long-term macroeconomic analyzes, while Paul M. Romer received it to have integrated technological advances in macroeconomic research.
Romer’s work laid the foundations of what is known as the theory of endogenous growth, which led to the creation of laws and public policies for the prosperity of societies.
The two economists developed methods to quantify one of the most important challenges, which is to create the basis for sustainable economic growth for the well-being of the population, according to the Swedish Academy.
K. Tovar
Source: Expansion
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