William Dawbney Nordhaus was born on May 31,1941 and is an American economist, a Sterling Professor of Economics at Yale University, best known for his work in economic modeling and climate change, and a co-recipient of the 2018 Nobel Memorial Prize in Economic Sciences.
22 Facts About William Nordhaus
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William Nordhaus graduated from Phillips Academy in Andover and subsequently received his BA and MA from Yale in 1963 and 1973, respectively, where he was a member of Skull and Bones.
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William Nordhaus holds a Certificate from the Institut d'Etudes Politiques and a PhD from MIT.
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William Nordhaus has been a member of the faculty at Yale since 1967, in both the Economics department and the School of the Environment.
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William Nordhaus has been on the Brookings Panel on Economic Activity since 1972.
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William Nordhaus was elected to the American Philosophical Society in 2013.
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William Nordhaus served as the chairman of the board of directors of the Boston Federal Reserve Bank between 2014 and 2015.
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William Nordhaus worked alongside Samuelson from the 12th edition until the 19th, starting in 1985.
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William Nordhaus has written several books on global warming and climate change, one of his primary areas of research.
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William Nordhaus is known for his critique of current measures of national income.
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William Nordhaus is the developer of the DICE and RICE models, integrated assessment models of the interplay between economics, energy use, and climate change.
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In 2007, William Nordhaus, who has done several studies on the economics of global warming, criticized the Stern Review for its use of a low discount rate:.
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In 2013, William Nordhaus chaired a committee of the National Research Council that produced a report discounting the impact of fossil fuel subsidies on greenhouse gas emissions.
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William Nordhaus asserted that he was not alone in making this assessment, claiming that half of the simulation arrived at the same conclusion.
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William Nordhaus remarked that the two-degree target was set without reference to the costs of meeting the target.
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William Nordhaus has been a foreign member of the Royal Swedish Academy of Engineering Sciences since 1999.
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William Nordhaus was awarded the Daniel Patrick Moynihan Prize by the American Academy of Political and Social Science in 2020.
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In 2013, William Nordhaus became president-elect of the AEA, and served as the association's president between 2014 and 2015.
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William Nordhaus was awarded the Nobel Memorial Prize in Economic Sciences in 2018, which he shared with Paul Romer.
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William Nordhaus' model is widely spread and is used to simulate how the economy and the climate co-evolve.
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Many of the news outlets that reported on William Nordhaus's prize noted that he was in the advance wave of economists who embraced a carbon tax as a preferred method of carbon pricing.
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William Nordhaus's model is used to examine the consequences of climate policy interventions, for example carbon taxes.