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US Economists Nordhaus, Romer Awarded 2018 Nobel Prize

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US Economists awarded Nobel Prize

The 2018 Nobel Prize for economics has been awarded to US economists William Nordhaus and Paul Romer for integrating innovation and climate with economic growth.

Nordhaus, a professor at Yale University, and Romer, a former World Bank chief economist now at New York University's Stern School of Business, addressed "some of our time's most basic and pressing questions about how we create long-term sustained and sustainable growth", the Royal Swedish Academy of Sciences said in a statement on Monday.

It said the pair "significantly broadened the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge".

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