Cypriot Wins Nobel Economics Prize

Cypriot Christopher Pissarides and two Americans have won the 2010 Nobel economics prize for their theories on the relationship between government policies and unemployment.

The Royal Swedish Academy of Sciences awarded Americans Peter Diamond and Dale Mortensen, and British Cypriot Christopher Pissarides for "their analysis of markets with search frictions."

62-year-old Pissarides teaches at the London School of Economics.