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The work of these three laureates on the regulated breakdown of proteins and the identification of a ubiquitin tag as the mechanism of targeting specific proteins for degradation has dramatically changed our understanding of cellular functions. From this work, it is now possible to understand at the molecular level how the cell controls a number of central processes by breaking down certain proteins and not others. Examples of processes governed by ubiquitin-mediated protein degradation are cell division, DNA repair, quality control of newly produced proteins, and important parts of immune defense.
From left to right: Avram Hershko - Technion - Israel Institute of Technology, Haifa, Israel Irwin Rose - University of California, Irvine, CA, USA
Aaron Ciechanover - Technion - Israel Institute of Technology, Haifa, Israel
Kydland and Prescott developed microeconomic and macroeconomic models, which recommended that policies for controlling inflation, for instance, should be rules-based rather than discretionary. Since the early 1990s, national discussions of isolated policy actions have given way to explicit consideration of the broad institutional framework shaping the incentives of policymakers, thus determining which policies should be credible and politically feasible. With monetary objectives set forth by the political system, usually with price stablity as their primary goal, many countries have instituted radical reforms of their monetary policy frameworks, especially by increasing the independence of their central banks regarding the operational conduct of policy. These laureates also demonstrated how variations in technological development--the main source of long-run economic growth--can lead to short-run fluctuations. In doing so, they offered a new and operational paradigm for macroeconomic analysis based on microeconomic foundations.
From left to right: Finn E. Kydland - Carnegie-Mellon University, Pittsburgh, PA, USA; University of California, Santa Barbara, CA, USA Edward C. Prescott - Arizona State University, Tempe, AZ, USA; Federal Reserve Bank of Minneapolis, Minneapolis, MN, USA
The work of these two laureates on the molecular identification of olfactory receptors and the organization of the olfactory system has been fundamental to our understanding of how our sense of smell works. Based in part on research published in their seminal 1991 Cell paper, “A Novel Multigene Family May Encode Odorant Receptors: A Molecular Basis for Odor Recognition,” in which they described the family of about one thousand genes for odorant receptors, Axel and Buck prepared the groundwork for over a decade of innovative olfactory system research and our current understanding of odorant receptors.
From left to right: Linda B. Buck - Fred Hutchinson Cancer Research Center, Seattle, WA, USA; Howard Hughes Medical Institute, Chevy Chase, MD, USA Richard Axel - Columbia University, New York, NY, USA; Howard Hughes Medical Institute, Chevy Chase, MD, USA
The theoretical contributions of Gross, Politzer and Wilczek have greatly enhanced and supplemented our understanding of how all the fundamental forces in Nature work, and our endeavours to provide a unified description of them on every spatial scale. Their discoveries about quarks, the force that ties together the smallest pieces of matter, and their contributions to the Quantum ChromoDynamics theory, have facilitated the completion of the Standard Model of Particle Physics, the model that describes the smallest objects in Nature and how they interact.
From left to right: Frank Wilczek - Massachusetts Institute of Technology (MIT), Cambridge, MA, USA H. David Politzer - California Institute of Technology, Pasadena, CA, USA David J. Gross - Kavli Institute for Theoretical Physics, University of California, Santa Barbara, CA, USA
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