Education

Shiller received his B.A. from the University of Michigan in 1967, S.M. from the Massachusetts Institute of Technology (MIT) in 1968, and his Ph.D. from MIT in 1972.

Career

He has taught at Yale since 1982 and held faculty positions at the Wharton School of the University of Pennsylvania and the University of Minnesota, also giving frequent lectures at the London School of Economics. He has written on economic topics that range from behavioral finance to real estate to risk management, and has been co-organizer of NBER workshops on behavioral finance with Richard Thaler since 1991.

He currently serves as the Arthur M. Okun Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Finance. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was Vice President of the American Economic Association in 2005, and President of the Eastern Economic Association for 2006-2007. He is also the co‑founder and chief economist of the investment management firm MacroMarkets LLC.

Achievements

• Case-Shiller index

• Irrational Exuberance

• Investment management firm MacroMarkets Limited Liability Company

• Contributions to financial market volatility

• Shiller is ranked among the 100 most influential economists of the world.Thomson Reuters named him a contender for the 2012 Nobel Prize in Economics for "for pioneering contributions to financial market volatility and the dynamics of asset prices".

Works

More photos

• article

  • "Inflation, Rational Expectations and the Term Structure of Interest Rates," with F. Modigliani, Economica (1973)

  • "Rational Expectations and the Term Structure of Interest Rates," Journal of Money, Credit and Banking (1973)

  • "A Distributed Lag Estimator Derived from Smoothness Priors," Econometrica (1973),Studies in Bayesian Econometrics and Statistics (1975)

  • “Behavioral Finance, Irrational Markets, and the Search for Value,” Greenwich Roundtable Quarterly (2004)

  • “Macro Markets: Managing Risks to National Economies,” in United Nations Development Program, The New Public Finance: Responding to Global Challenges (2005)

  • “The Next Bubble (or Bust)” World Economic Forum Global Agenda, Issue Northern 3 (Annual Meeting 2005)

  • “How Wall Street Learns to Look the Other Way,” New York Times, Op-Ed Page ( February 8, 2005)

  • “American Casino: The Promises and Perils of Bush’s Ownership Society,” The Atlantic (2005)

  • “People Are Talking” Wall Street Journal, Opinion Page (June 2, 2005)

  • “A Bond that Insures against Instability,” (with Stephany Griffith-Jones), Financial Times (July 11, 2006)

  • “Full House,” with Karl E. Case, Wall Street Journal ( August 30, 2006)

  • “Things that Go Boom,” Wall Street Journal (February 8, 2007)

  • “Infectious Exuberance,” The Atlantic (July/August 2008)

  • “Good Financial Information Matters More Than Ever,” Wall Street Journal, A17 (October 9, 2008)

  • “The Ownership Myth,” Newsweek (October 20, 2008)

  • “Blowing Bubbles: Our Current Financial Crisis Is Not without Precedent. Here’s What Can Be Done to Help Americans,” Playboy (December 2008)

  • “Are We There Yet: A Housing Crisis Update,” CME Group Magazine (fall 2009)

• book

  • Market Volatility, Massachusetts Institute of Technology Press (1990)

  • Macro Markets: Creating Institutions for Managing Society's largest Economic Risks, Clarendon Press, New York: Oxford University Press (1993)

  • Irrational Exuberance, Princeton University Press (2000)

  • The New Financial Order: Risk in the 21st Century, Princeton University Press (2003)

  • The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It, Princeton University Press (2008)

  • Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (with George A. Akerlof), Princeton University Press (2009

  • Finance and the Good Society, Princeton University Press (2012)

Connections

Wife:

Virginia M. Shiller

clinical psychologist in private practice in New Haven, clinical instructor at the Yale Child Study Center

Son:

Benjamin Shiller

Postdoctoral fellow at the National Bureau for Economic Research in Cambridge

Friend, scientific opponent:

Jeremy Siegel

Economist

Collegue, Co-author:

Franco Modigliani

Economist

Collegue, Co-author:

George Akerlof

Economist