Table of Contents
What was William Nordhaus the first to do?
In 1972 Nordhaus, along with fellow Yale economics professor James Tobin, published Is Growth Obsolete?, an article that introduced the Measure of Economic Welfare (Index of Sustainable Economic Welfare) as the first attempt to develop environmental accounting.
Why is William Nordhaus a famous economist?
William Nordhaus, in full William Dawbney Nordhaus, (born May 31, 1941, Albuquerque, New Mexico, U.S.), American economist who, with Paul Romer, was awarded the 2018 Nobel Prize for Economics for his contributions to the study of long-term economic growth and its relation to climate change.
Who developed regional integrated model of climate and the economy?
In 1996, Nordhaus and Zili Yang published an article titled A regional dynamic general-equilibrium model of alternative climate-change strategies at The American Economic Review, established the RICE (Regional Integrated model of Climate and the Economy) model.
Do real output and real wage measures capture reality the history of lighting suggests not?
The History of Lighting Suggests Not. Abstract: Historical studies of the growth in real wages and output depend upon the accurate measure of the price trends of goods and services.
Who won the Nobel Prize for global warming?
Klaus Hasselmann (Max Planck Institute for Meteorology, Hamburg, Germany), “for the physical modelling of Earth’s climate, quantifying variability and reliably predicting global warming.” They share the prize with the Italian theorist Prof.
What discount rate does Nordhaus use?
Nordhaus examines a model of climate change that is similar to the one used in the Stern Review but with a 3 percent social discount rate that slowly declines to 1 percent in 300 years rather than the 0.1 percent discount rate used in the Stern Review.
What are Iams?
Iams (/ˈaɪəmz/) is a popular brand name for dog food and cat food manufactured by Spectrum Brands in Europe and Mars, Incorporated worldwide. The company sells pet food for cats and dogs formulated for puppy/kitten, adult and mature. Veterinary formulas for pets with special dietary requirements are also available.
What does the DICE model do?
The DICE model views the economics of climate change from the perspective of neoclassical economic growth theory. In this approach, economies make investments in capital, education, and technologies, thereby reducing consumption today in order to increase consumption in the future.
Where did William d.nordhaus go to college?
William Nordhaus was born in Albuquerque, New Mexico in the United States. He studied at Yale University and completed his PhD in 1967 at the Massachusetts Institute of Technology.
Where did Robert j.nordhaus come from?
Robert J. Nordhaus was from a German Jewish family — his father Max Nordhaus (1865–1936) immigrated from Paderborn in 1883 and was a manager of The Charles Ilfeld Company branch in Albuquerque.
Why was William Nordhaus awarded the Nobel Prize?
William Nordhaus, in full William Dawbney Nordhaus, (born May 31, 1941, Albuquerque, New Mexico, U.S.), American economist who, with Paul Romer, was awarded the 2018 Nobel Prize for Economics for his contributions to the study of long-term economic growth and its relation to climate change.
What did William Nordhaus and Paul Romer do?
Paul Romer, American economist who, with William Nordhaus, was awarded the 2018 Nobel Prize for Economics for his contributions to the understanding of long-term economic growth and its relation to technological innovation. Romer’s work shed light on the…