American Philosophical Society
Member History

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1Name:  Dr. Robert J. Shiller
 Institution:  Yale University
 Year Elected:  2003
 Class:  3. Social Sciences
 Subdivision:  302. Economics
 Residency:  Resident
 Living? :   Living
 Birth Date:  1946
Robert J. Shiller is the Arthur M. Okun Professor of Economics, Department of Economics and Cowles Foundation for Research in Economics, Yale University, and Professor of Finance at the International Center for Finance, Yale School of Management. He received his B. A. from the University of Michigan in 1967 and his Ph.D. in economics from the Massachusetts Institute of Technology in 1972. He has written on financial markets, financial innovation, behavioral economics, macroeconomics, real estate, statistical methods, and on public attitudes, opinions, and moral judgments regarding markets. His 1989 book Market Volatility (MIT Press) is a mathematical and behavioral analysis of price fluctuations in speculative markets. His 1993 book Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks proposes a variety of new risk-management contracts, such as futures contracts in national incomes or in real estate that would permit the management of risks to standards of living. His book Irrational Exuberance (2000) is an analysis and explication of speculative bubbles, with special reference to the stock market and real estate. His book The New Financial Order: Risk in the 21st Century (2003) is an analysis of an expanding role of finance, insurance, and public finance in our future. He was vice president of the American Economic Association (2005) and a research associate with the National Bureau of Economic Research. He writes a column "Finance in the 21st Century" for Project Syndicate, which publishes around the world. He is co-founder of Case Shiller Weiss, Inc., an economics research and information firm, which was sold in 2002 and renamed Fiserv CSW, Inc. He is also co-founder and principal of MacroMarkets, LLC, a firm devoted to the securitization of new risks, and of Macro Financial, LLC, a boutique investment bank. His book Subprime Solution: How Today's Financial Crisis Happened and What to Do About It (2008) outlines important new economic measures. He recently wrote (with George A. Akerlof) Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (2009) and Finance and the Good Society (2012). In 2013 he won the Nobel Memorial Prize in Economic Science with Eugene Fama.
Election Year
2003 (1)