Economist. United Statesby / February 16, 2015 / Leave a comment
One of the most influential economists of the last 30 years, Shiller is a Professor at Yale. In 2013 he was awarded the Nobel Prize in economics for having “laid the foundation for the current understanding of asset prices.” He writes regularly including for the New York Times, and has published several highly influential books. The most famous of these was Irrational Exuberance, first published 15 years ago, in which Shiller predicted the collapse of the 2000 technology bubble. In the third edition, published this year, he warns that US stock and bond prices are over-valued and that house prices in many countries are “overheated”, an analysis that will attract wide attention. The Case-Shiller index, a co-creation with the economist Karl Case, gave clear indications throughout the mid-2000s of the coming collapse in US property prices. Using data going back to 1890, the index remains the most influential measure of US property values currently in use.
What’s Ahead for Financial Markets?
Q&A with Shiller after his Nobel acceptance speech.
Review: The Subprime Solution
Tim Worstall reviews Shiller’s most recent book on the subprime mortgage crisis.