CEECC holds seminar on 2018 Nobel Prize Winners

The Centre for Environmental Economics and Climate Change (CEECC) at Pakistan Institute of Development Economics (PIDE) held a seminar on 2018 Nobel Prize Winners, William Nordhaus and Paul Romer. The seminar was hosted by research economist Dr Ghulam Samad in which he discussed how the recognition of William Nordhaus for “integrating climate change into long-run macroeconomic analysis” gives environmental issues a center stage in economic research.He also highlighted Paul Romer contribution of “integrating technological innovations into long-run macroeconomic analysis”. Romer and Nordhaus contribution can be summarized as “integrating innovation, and climate with economic growth”. He was joined by the Vice Chancellor, Dr Asad Zaman, faculty members, researchers and students. Both of these winners elaborated the role of the government to enhance innovation by facilitating research and development, and enforcing intellectual property rights, says a press release issued here on Thursday.He began the presentation by giving a brief overview of the prevailing schools of thoughts that focused more on exogenous factors influencing economic growth.-PR