Robert Shiller, along with Eugene Fama and Lars Peter Hansen, together won this year’s Nobel Prize in economics “for their empirical analysis of asset prices.” Shiller, an economist at Yale University, has been a frequent contributor to the Brookings Papers on Economic Activity (BPEA), including:
• What Have They Been Thinking? Homebuyer Behavior in Hot and Cold Markets (Fall 2012, with Karl Case and Anne Thompson)
• Low Interest Rates and High Asset Prices: An Interpretation in Terms of Changing Popular Economic Models (Fall 2007)
• Is There a Bubble in the Housing Market? (Fall 2003, with Karl Case)
• Public Resistance to Indexation: A Puzzle (Spring 1997)
• Hunting for Homo Sovieticus: Situational versus Attitudinal Factors in Economic Behavior (Spring 1992, with Maxim Boycko and Vladimir Korobov)
• Stock Prices and Social Dynamics (Fall 1984)
• Forward Rates and Future Policy: Interpreting the Term Structure of Interest Rates(Spring 1983, with John Campbell and Kermit Schoenholtz)
Shiller is also a discussant on a number of other BPEA papers. He is not the first BPEA author to also be a Nobel prize-winning economist. George Akerlof has authored six BPEA papers and has been a discussant on five others. Akerlof is also a Brookings nonresident senior fellow.
Justin Wolfers, co-editor with David Romer of BPEA, tweeted:
My column on the Economics Nobel: Fama, Shiller and Hansen teach us about both the wisdom and madness of crowds. http://t.co/Unf4yy5ldc
— Justin Wolfers (@justinwolfers) October 14, 2013
Gene Fama Lars Peter Hansen Robert Shiller Congratulations to our new Nobel Laureates. The unifying theme for this motley crew: “Prediction”
— Justin Wolfers (@justinwolfers) October 14, 2013
Commentary
Economics Nobel Winner Robert Shiller an Author for Brookings Papers on Economic Activity
October 14, 2013