Nobel prize

Nobel prize for economics awarded to William Nordhaus, Paul Romer

MNA Business Desk: The 2018 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, more commonly known as the Nobel prize for economics, has been awarded to William Nordhaus and Paul Romer for innovation, climate and economic growth.

William Nordhaus is being recognised for his work on the damage caused by climate change, reported news agency.

Paul Romer has examined how economists can achieve a healthy rate of economic growth.

The models that Nordhaus and Romer have created have helped with the development of economic growth, and with combatting climate change, we’re hearing.

They have taken macroeconomics to a global scale, to tackle some of the world’s biggest problems, the Nobel Prize committee said.

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