The Sterling Professor of Economics, Emeritus, died on Oct. 30 at the age of 85 following a battle with brain cancer. During his more than 50 years at Yale University, he created the Dynamic Integrated Climate-Economy model to evaluate emissions costs against climate damages. Outside of his climate scholarship, he co-authored Paul Samuelson’s foundational textbook "Economics" and studied economic welfare alongside James Tobin. He also contributed to national economic policy through appointments with the Council of Economic Advisers and the Federal Reserve Bank of Boston.
Key points
His DICE model established an influential framework supporting carbon taxes as an efficie…: His DICE model established an influential framework supporting carbon taxes as an efficient remedy for pollution.
Beyond climate research, he served as the primary author for later editions of Paul Samue…: Beyond climate research, he served as the primary author for later editions of Paul Samuelson’s foundational economics textbook.
His public service record included high-level roles on the President’s Council of Economi…: His public service record included high-level roles on the President’s Council of Economic Advisers and the Federal Reserve Bank of Boston.
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William D. Nordhaus, Sterling Professor of Economics, Emeritus, whose influential work as an economist transformed a field and who won the 2018 Nobel Prize in Economics for his pioneering work on the economics of climate change, died on Oct. 30 following a battle with glioblastoma, an aggressive brain cancer. He was 85.
Nordhaus was also a central figure on the Yale campus for more than 50 years, teaching generations of undergraduate and graduate students and holding key administrative roles for the university, including as provost and vice president for finance and administration.
His influential work ranged widely, from the economics of climate change to the measurement of technological change, the interaction of the business cycle and the election cycle, and the measurement of economic welfare — farsighted work done jointly with the late James Tobin, himself a Yale Nobel laureate and one of the most influential economists of his day.
Nordhaus is best known, however, for receiving the 2018 Nobel Prize for “integrating climate change into long-run macroeconomic analysis,” an achievement most prominently reflected in what was known as the…
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