Robert J. Shiller

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Shiller during the WEF 2012

Robert James Shiller (born March 29, 1946 in Detroit ) is an American economist and professor of economics at Yale University . He was awarded the Nobel Prize in Economics in 2013 - together with Lars Peter Hansen and Eugene Fama .

job

Robert J. Shiller holds the Stanley B. Resor Chair in Economics and is a Fellow at Yale University's International Center for Finance.

His scientific career began with a doctorate in 1972 from the Massachusetts Institute of Technology . Robert Shiller has been an associate member of the National Bureau of Economic Research since 1980 .

In the 1980s, Robert J. Shiller, together with Karl E. Case and Allan Weiss, developed the Case-Shiller Index , which reflects the development of the US real estate market . The Case-Shiller Home Price Index, distributed by Standard & Poor’s , is the leading real estate index in the United States.

The American Academy of Arts and Sciences accepted him as a member in 1994. In 1996 his book Macro Markets: Creating Institutions for Managing Societys Largest Economic Risks received the Paul A. Samuelson Award. Since 2003 he has been a member of the American Philosophical Society .

His book "Irrationaler Überwang" ( irrational exuberance ), published in 2000 at the height of the New Economy euphoria, became a bestseller. The theses presented therein proved to be true shortly afterwards in the bear market that lasted up to 2003 He warned early on of the real estate bubble in the USA.

Shiller takes a Keynesian approach, but not in the form since John R. Hicks (1937) cleared of all assumptions about the unreasonable behavior of economic agents. He tries to include irrational exaggerations, forms of lemming behavior , but also the play instinct of the actors in the analysis and is thus a co-founder of behavioral finance .

Awards

Shiller at the press conference for the Nobel Prize in Sweden in December 2013

In 2009, the CFS ( Center for Financial Studies ) awarded Shiller the $ 50,000 Deutsche Bank Prize in Financial Economics .

In 2013 Shiller, Eugene Fama and Lars Peter Hansen received the Alfred Nobel Memorial Prize for Economics “for their empirical analysis of capital market prices”.

For 2018 Shiller was awarded the Kiel World Economic Prize .

Fonts (selection)

  • Irrational Exuberance. 3rd, expanded edition. Princeton University Press, Princeton 2015, ISBN 978-0-691-16626-1 .
    • Irrational exuberance. Why a long bear market is inevitable. 2000.
  • The new financial order. 2003.
  • The subprime solution. 2008.
  • with George Akerlof : Animal Spirits . 2009.
  • Finance and the Good Society. Princeton University Press, Princeton and Oxford 2012
    • German: Markets for people. This is how we create a better financial system . Campus Verlag, Frankfurt am Main / New York City 2012, ISBN 978-3-593-39726-9 .
  • with George Akerlof: Phishing for Phools. The Economics of Manipulation and Deception.
    • German: Phishing for Fools. Manipulation and Deception in the Free Market Economy . Econ Verlag, 2016, ISBN 978-3-430-20206-0 .
  • Narrative economics: how stories go viral & drive major economic events. 2019.
    • German: Narrative economy: How stories influence the economy - a revolutionary explanatory approach. Plassen Verlag, 2019, ISBN 978-3-86470-666-0 .

literature

Web links

Commons : Robert J. Shiller  - Collection of Images, Videos and Audio Files

Individual evidence

  1. ↑ Review by Christoph Albrecht in the FAZ on July 23, 2012.
personal data
SURNAME Shiller, Robert J.
ALTERNATIVE NAMES Shiller, Robert James (full name)
BRIEF DESCRIPTION American economist
DATE OF BIRTH March 29, 1946
PLACE OF BIRTH Detroit