American Economic Review . Mundell was an ardent supporter of the euro, of which he is considered the godfather. Professor Robert A. Mundell, Columbia University, New York, USA for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas. 4 (Sep., 1961), pp. 1 Connolly Michael, Robert A. Mundell: A Profile, Review of International Economics, 9(4), 2001, p. 585 . Robert Mundell (born in 1932) is a Canadian economist and professor at Columbia University. Mundell is best known in politics for his support of tax cuts and supply-side economics; however, in economics it is for his work on currency areas [13] and international exchange rates [14] that he was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel by the Bank of Sweden (Sveriges Riksbank). May 2000 Robert Mundell seems to be on both sides of the debate over European monetary unification and on the adoption of common monetary standards in other parts of the world. https://www.imf.org/external/pubs/ft/fandd/2006/09/people.htm The history of this classic article is found in a 1997 speech by Mundell.Having set out a theory of optimum currency areas in the early 'sixties, he concluded by … Published by Mundell in 1961, this is the most cited by economists. He received the Nobel Memorial Prize in Economics in 1999 for his pioneering work in monetary dynamics and optimum currency areas.Mundell is known as the "father" of the Euro, as … Optimum currency area theory (OCA) was developed in 1961 by Canadian economist Robert Mundell based on earlier work by Abba Lerner. Robert A. Mundell, Canadian-born economist who in 1999 received the Nobel Prize in Economic Sciences for his work on monetary dynamics and optimum currency areas. His work has inspired generations of researchers and dominates fiscal policy in open economies. Robert Alexander Mundell, CC (born October 24, 1932) is a Nobel Prize-winning Canadian economist.Currently, he is a professor of economics at Columbia University and the Chinese University of Hong Kong.. Macroeconomic stability is enhanced if the currency area has a high degree of internal factor mobility relative to the cross-border factor mobility. Prize-winning Canadian economist Robert Mundell, who first described in the 1960s what is today known as the theory of optimal currency areas (OCA). Columbia University Extended version of a luncheon speech presented at the AConference on Optimum Currency Areas,@ Tel-Aviv University, December 5, 1997 . But this paradox can be resolved by noting that there are two Mundell models-earlier and later. In economics, an optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. papers of Robert Mundell as the starting point, this article first analyses traditional theorizing on the pros and cons of international monetary integration and then sug- gests new approaches to the problem of international risk-sharing in OCAs. Mundell’s contributions on monetary dynamics proved to be a watershed for research in international macro-economics. Robert Alexander Mundell was awarded the 1999 economics prize “for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas”. As McKinnon, he is known especially for his contribution to the optimum currency areas theory. Mundell concluded in that lecture that "the international monetary system depends only on the power configuration of the countries that make it up". 657-665 For offsetting asymmetrical macroeconomic shocks, his 1961 article leans toward He has reshaped the macro economic theory for open economics. Background His theory of optimum currency areas, highlighted in the Nobel Committee's citation as one of his most significant scientific contributions, has served since the 1960s as an analytical framework for numerous debates on the validity of the creation of a European currency. More than forty years after Robert Mundell put forth the theory of optimum currency areas, the analytical consensus based on his celebrated 1961 paper has disintegrated. Downloadable! Robert Alexander Mundell (* 24. For many years, Mundell’s theories have been at the core of teaching in macroeconomics. This year’s Nobel prize in economics has been awarded to Robert Mundell. American Economic Association A Theory of Optimum Currency Areas Author(s): Robert A. Mundell Source: The American Economic Review, Vol. His contributions to the field of international monetary economics were path breaking and have stood the test of time well. Robert Mundell, CC (born October 24, 1932) is a Nobel Prize-winning Canadian economist.Currently, Mundell is a professor of economics at Columbia University and the Chinese University of Hong Kong.. 51:11, 509-517. The World … A Theory of Optimum Currency Areas (1961), by Robert Mundell, was selected for the Top 20. Robert Mundell Inhaltsverzeichnis Robert Mundell's Work on Optimum Currency Areas Don Roper The 1999 Nobel Prize in Economics was given to Robert Mundell, in part for his work, Optimum Currency Areas, which is often credited with the development of the Euro. This paper explains that selecting the optimal geographic area for a single currency involves balancing two considerations. Science “for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas.” We interviewed Professor Mundell at his hotel in Boston, Massachusetts, on January 7, 2006, while attending the annual meeting of the Allied Social Science Associations. Robert Mundell seems to be on both sides of the debate over European monetary unification and on the adoption of common monetary standards in other parts of the world. I would like to tell you a little about how the article came … May 2000 Robert Mundell seems to be on both sides of the debate over European monetary unification and on the adoption of common monetary standards in other parts of the world. Mundell, Robert (1961) A theory of optimum currency areas. Robert Alexander Mundell, CC (born October 24, 1932) ... got the honor for "his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas". 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