William Nordhaus, Paul Romer win economics Nobel for climate, innovation

Nordhaus also was honored for his role in developing a model that allows economists to analyse the costs of climate change

The 2018 Nobel Memorial Prize in Economic Science was awarded on Monday to a pair of American economists, William D Nordhaus and Paul M Romer, for their work highlighting the importance of government policy in fostering sustainable economic growth.

Nordhaus was honoured for pioneering the assessment of the economic impact of climate change, including his advocacy of governments taxing carbon emissions. Romer was honoured for his work on the role of policy in encouraging technological innovation. Nordhaus, 77, is a professor at Yale. Romer, 62, is a professor at New York University.

The award came on the same day that