American researchers win Nobel economics prize

The Nobel Price for economics was awarded to two American researchers.

William Nordhaus of Yale University in the 1990s became the first person to create a model that “describes the global interplay between the economy and the climate,” according to Royal Swedish Academy of Sciences officials.

The other winner, Paul Romer of New York University, conducted macroeconomic research that "explains how ideas are different to other goods and require specific conditions to thrive in a market," the officials said.

Read more from The Washington Post.