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Robert Alexander Mundell CC (October 24, 1932 – April 4, 2021) was a Canadian economist. He was a professor of economics at Columbia University and the Chinese University of Hong Kong. He received the Nobel Memorial Prize in Economic Sciences in 1999 for his pioneering work in monetary dynamics and optimum currency areas. [1]
Robert Fry Engle III (born November 10, 1942) is an American economist and statistician. He won the 2003 Nobel Memorial Prize in Economic Sciences , sharing the award with Clive Granger , "for methods of analyzing economic time series with time-varying volatility ( ARCH )".
Robert Stephen Pindyck (/ ˈ p ɪ n d aɪ k / PIN-dyke; born January 5, 1945) is an American economist, Bank of Tokyo-Mitsubishi Professor of Economics and Finance at Sloan School of Management at Massachusetts Institute of Technology.
Robert Clower grew up in Pullman, Washington, where he was born on February 13, 1926.His father, F.W. Clower, was a professor of economics there at Washington State College.
Price stability is a goal of monetary and fiscal policy aiming to support sustainable rates of economic activity. Policy is set to maintain a very low rate of inflation or deflation . For example, the European Central Bank (ECB) describes price stability as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the Euro ...
Robert Shiller's plot of the S&P Composite Real Price Index, Earnings, Dividends, and Interest Rates, from Irrational Exuberance, 2d ed. [18] In the preface to this edition, Shiller warns that "[t]he stock market has not come down to historical levels: the price-earnings ratio as I define it in this book is still, at this writing [2005], in the ...
In economics, money illusion, or price illusion, is a cognitive bias where money is thought of in nominal, rather than real terms. In other words, the face value (nominal value) of money is mistaken for its purchasing power (real value) at a previous point in time.
Feenstra wrote the article "New Product Varieties and the Measurement of International Prices," published in the American Economic Review in 1994, which is one of his most widely cited articles. In the article, he discussed how the gains from product variety that arise in models of international trade with monopolistic competition can be ...