Science & invention
Robert J. Shiller
born 1946 · economist
Yale economist and Nobel laureate known for the Case–Shiller home-price index and for warning of the dot-com and housing bubbles; born in Detroit.
- Born
Detroit, Michigan
age 80- Birth name
- Robert James Shiller
- Also known as
- Robert Shiller
- Field
- Science & invention
01 / The Detroit story
The Detroit story
Shiller was born in Detroit in 1946 and did his undergraduate studies in Michigan, spending two years at Kalamazoo College before transferring to the University of Michigan, where he graduated with a bachelor's degree in 1967. He took his doctorate at MIT and built his career at Yale. With Karl Case he created the Case–Shiller index of U.S. home prices, and his cyclically adjusted price-to-earnings ratio became a common yardstick for stock valuations. His book Irrational Exuberance, published in 2000 as the dot-com boom peaked, argued that markets were in a speculative bubble; its 2005 second edition warned of a housing bubble ahead of the 2007–2008 crisis. He shared the 2013 Nobel Memorial Prize in Economic Sciences for empirical analysis of asset prices.
Highlights
- Nobel Memorial Prize in Economic Sciences, 2013, with Eugene Fama and Lars Peter Hansen
- Co-creator of the Case–Shiller home price index
- Author of Irrational Exuberance (2000; second edition 2005)
- Bachelor's degree from the University of Michigan, 1967