Robert Mundell

@Massachusetts Institute Of Technology, Family and Childhood ★ ★ ★ ★ ★ Robert Mundell is a Canadian economist who received the Nobel Prize in Economic Sciences in 1999 Canadian London School Of Economics (LSE) Massachusetts Institute Of Technology University Of Washington Intellectuals & Academics Economists Scorpio Celebrities Robert Mundell is a Canadian economist who received the Nobel Prize in Economic Sciences for developing the theory of optimal currency areas in the modern world. Many people are of the opinion that he is the godfather of the ‘Euro’ currency used in the European Union. Though he received the Nobel Prize much later, during the 1960s he predicted the future development of capital markets and international monetary systems around the world. His prophecy on future monetary systems impressed the ‘Royal Swedish Academy of Sciences’ much before he received the prize. He derived a large number of observations after analyzing his highly technical mathematical formulations which changed the concept of ‘open economy’. Though most of his work has been welcomed by the economists all over the world, some of his advocated policies such as creation of a global currency, returning to the gold standard and others, are yet to be embraced by a large number of his peers. Many economists and international monetary organizations like IMF still feel uncomfortable with his idea of ‘supply side’ tax cuts, and his recent advice to China on its exchange rate regime. He was the first economist who studied the effect of floating exchange rates which had been ‘taboo’ since a long time. He also contributed to the ‘Mundell-Fleming Theory’ and the ‘Mundell-Tobin Theory’.

Personal Details

Birthday: October 24, 1932 Nationality: Canadian Famous: London School Of Economics (LSE), Massachusetts Institute Of Technology, University Of Washington, Intellectuals & Academics, Economists Spouses: Valerie Mundell Known as: Robert Alexander Mundel Universities: London School Of Economics,Massachusetts Institute Of Technology (MIT),University Of Washington London School of Economics UBC Vancouver School of Economics University of Washington Massachusetts Institute of Technology University of Waterloo Notable Alumnis: London School Of Economics Massachusetts Institute Of Technology (MIT) University Of Washington Information Detail Birthday October 24, 1932 Nationality Canadian Famous London School Of Economics (LSE), Massachusetts Institute Of Technology, University Of Washington, Intellectuals & Academics, Economists Spouses Valerie Mundell Known as Robert Alexander Mundel Universities London School Of Economics,Massachusetts Institute Of Technology (MIT),University Of Washington London School of Economics UBC Vancouver School of Economics University of Washington Massachusetts Institute of Technology University of Waterloo Notable Alumnis London School Of Economics Massachusetts Institute Of Technology (MIT) University Of Washington Birth Place Kingston, Ontario, Canada Gender Male Sun Sign Scorpio Born in Kingston, Ontario, Canada Famous as Economist

Kingston, Ontario, Canada

Robert Mundell born at Unsplash Birth Place

Robert Mundell has three children from his first marriage, which ended in divorce in 1972. He is currently married to Valerie Mundell and has a son Nicholas from this marriage. Unsplash Personal Life

The ‘Mundell International University of Entrepreneurship’ situated in the Zhongguancun district in Beijing, PRC, has been named after him. Unsplash Personal Life

Robert Mundell was born as Robert Alexander Mundell in Kingston, Ontario, Canada, on October 24, 1932. Unsplash Childhood & Early Life

He started his academic life in a school which was located in a single room. Unsplash Childhood & Early Life

After passing out from school he joined the ‘University of British Columbia’ in Vancouver from where he earned his B. A. degree in economics and Slavonic studies in 1953. Unsplash Childhood & Early Life

He studied at the ‘University of Washington’ in Seattle and then at the ‘Massachusetts Institute of Technology’ to complete his graduate studies. He obtained his M. A. degree in economics in 1954. Unsplash Childhood & Early Life

He completed his PhD at the ‘London School of Economics’ in 1956 under the supervision of James Meade. Unsplash Childhood & Early Life

After completing his post doctoral studies, Robert Mundell taught economics at the ‘University of British Columbia’, the ‘Stanford University’ and the ‘John Hopkins Bologna Center of Advanced International Studies’ in Italy for the next few years. Unsplash Career

In 1960 he published an article that introduced a model of an economy dominated by the market for goods and services on one side and the market for foreign exchange on the other which was the first of its kind regarding the concept of macroeconomics. Unsplash Career

His lectures and papers on international trade, optimum currency areas, and the trade-offs on fiscal and monetary policies under fixed and floating exchange rates attracted the attention of Jaques Polak, head of IMF’ Research Department, who offered Mundell a job at IMF in 1961. Unsplash Career

In a world where studying floating exchange rates was ‘taboo’, Mundell’s first job was to find a mix of monetary and fiscal policies. Unsplash Career

During his stay at IMF from 1961 to 1963 he also worked on the theory of inflation and showed that an increase in expected inflation can raise the interest rate by a lesser margin contrary to the theories of Abba Lerner and Irving Fisher which came to be known as the ‘Mundell-Tobin effect’ later. Unsplash Career

One of Robert Mundell’s notable works is the book ‘Man and Economics’ which was published in 1968. Unsplash Major Works

He published the book ‘Monetary Theory: Interest, Inflation and Growth in the World Economy’ in 1971. Unsplash Major Works

His book ‘The Euro as a Stabilizer in the International Economic System’ was published in 2000. Unsplash Major Works

Information	Detail
Birthday	October 24, 1932
Nationality	Canadian
Famous	London School Of Economics (LSE), Massachusetts Institute Of Technology, University Of Washington, Intellectuals & Academics, Economists
Spouses	Valerie Mundell
Known as	Robert Alexander Mundel
Universities	London School Of Economics,Massachusetts Institute Of Technology (MIT),University Of Washington London School of Economics UBC Vancouver School of Economics University of Washington Massachusetts Institute of Technology University of Waterloo
Notable Alumnis	London School Of Economics Massachusetts Institute Of Technology (MIT) University Of Washington
Birth Place	Kingston, Ontario, Canada
Gender	Male
Sun Sign	Scorpio
Born in	Kingston, Ontario, Canada
Famous as	Economist

Robert Mundell

Canadian

Oct 24, 1932

Biography

Personal Details

Kingston, Ontario, Canada