Royal Swedish Academy of Sciences Secretary General Goran K Hansson announces winners of the Sveriges Riksbank Prize in Economic Sciences, 2018 Nobel Economics Prize, in Stockholm, Sweden October 8, 2018. REUTERS/Ilze Filks
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Two American researchers were awarded the Nobel Prize for economics Monday for studying the interplay of climate change and technological innovation with economics.William Nordhaus of Yale University and Paul Romer of New York University were announced winners of the 9-million-kronor ($1.01 million) prize by the Royal Swedish Academy of Sciences.Previous macroeconomic research had emphasized technological innovation as a driver of growth but had not modelled how market conditions and economic decisions affected creation of new technologies, the academy said.
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