Paul romer cv

What is Paul Romer known for?

Romer is best known as the former Chief Economist of the World Bank and for co-receiving the 2018 Nobel Memorial Prize in Economic Sciences (shared with William Nordhaus) for his work in endogenous growth theory. He also coined the term "mathiness," which he describes as misuse of mathematics in economic research.

What is Romer’s theory?

Romer was recognized “for integrating technological innovations into long-run macroeconomic analysis”. … He developed the theory of endogenous technological change, in which the search for new ideas by profit-maximizing entrepreneurs and researchers is at the heart of economic growth.

Is Paul Romer The son of Roy Romer?

His son Paul Romer is a Nobel Prize winning economist, and another son Chris Romer was elected to a Colorado State Senate seat from Denver in November 2006.

What is the base of modern Economics as per view of Paul Romer?

Romer views the economy as a “huge innovation discovery machine” that, in conjunction with government policy, can and should promote and provide technological innovation for everyone.

Why is there growth in the Romer model?

Paul Romer (1986), Robert Lucas (1988), Sergio Rebelo (1991) and Ortigueira and Santos (1997) omitted technological change; instead, growth in these models is due to indefinite investment in human capital which had a spillover effect on the economy and reduces the diminishing return to capital accumulation.

Was Roy Romer a Republican or Democrat?

Democratic Party Roy Romer/Parties

Why did Paul Romer get a Nobel Prize?

Paul Romer, in full Paul Michael Romer, (born November 7, 1955, Denver, Colorado, U.S.), 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.