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Robert Mundell obituary

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Canada , Stockholm , Sweden , Canadian , Paris-hilton , Robert-mundell , Yet-robert-mundell , Optimum-currency-areas , கனடா , ஸ்டாக்‌ஹோல்ம் , ஸ்வீடந்

The Mundell difference | VOX, CEPR Policy Portal

Paul De Grauwe
The opening sentence of Robert Mundell’s 1963 paper “Capital mobility and stabilization policy under fixed and flexible exchange rates” — one of the two most influential in a series of pathbreaking papers he published in the late 1950s and early 1960s — is curious: “The world is still a closed economy, but its regions and countries are becoming increasingly open.”
“Still”? Was Mundell thinking of a future with interplanetary trade, so that eventually the world as a whole
wouldn’t be a closed economy? OK, he probably wasn’t, but if he was, it would have been in character. Mundell, who passed away on 4 April, was an economist ahead of his time.

New-york , United-states , United-kingdom , Vancouver , British-columbia , Canada , Princeton , Newfoundland , Toronto , Ontario , France , Britain

Mundell Was No Defunct Scribbler

Mundell Was No Defunct Scribbler
forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.

Chicago , Illinois , United-states , University-of-chicago , France , Washington , Bob-mundell , Arthur-laffer , Neumann-whitman , Roberta-mundell , Supply-side-economics , Mundell

Modern Monetary Theory Meets Greece and Chicago

During the fall of 2009, George Papandreou headed the ticket of the Panhellenic Socialist Movement, known by its acronym PASOK, against the then‐governing conservative party, New Democracy, in the Greek national elections. Papandreou ran on a platform that featured highly expansive fiscal spending. During a press conference on September 13, 2009, he was asked where he would find the money to fund his party’s spending proposals. His answer was that given in the above quotation, by which he meant that Greece had abundant fiscal space to increase government spending; he believed that tax revenues could be sharply raised through stricter enforcement of laws against tax evasion. On October 4, PASOK won a landslide electoral victory, garnering 43.9 percent of the popular vote, compared with 33.5 percent for the second‐place, incumbent New Democracy party, with the result that Papandreou became Greece’s prime minister. In the following months, a sovereign‐debt crisis erupted in Greece that, within a year, engulfed much of the euro area through contagion. In November 2011, Papandreou resigned the premiership, becoming the first Greek prime minister in almost 50 years to be forced out of office by his own cabinet. An article in the Financial Times, reporting on his ouster, stated: “George Papandreou will be remembered by Greeks with more than a trace of bitterness as the man who smilingly declared ‘the money’s there’ ” (Hope 2011). In the next Greek elections, held in June 2012, PASOK won only 12.3 percent of the vote.

New-york , United-states , Australia , Japan , University-of-chicago , Illinois , United-kingdom , Argentina , Washington , China , Luxembourg , Canada