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Arthur M. Okun Professor of Economics

Robert J. Shiller is the Arthur M. Okun Professor of Economics, Cowles Foundation for Research in Economics, at Yale University, and professor of finance at the Yale School of Management. He has written about financial markets, behavioral economics, macroeconomics, real estate, statistical methods, and public attitudes, opinions and moral judgments regarding markets. His book Irrational Exuberance (Princeton University Press, 2000 & 2005 in 15 foreign language editions, Broadway Books 2001) is an analysis and explication of recent stock market and housing market booms. It was a New York Times nonfiction bestseller. His book Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism (with George Akerlof, Princeton University Press 2009) has been translated into twenty languages. His book Finance and the Good Society (Princeton 2012) has been translated into seven languages. Professor Shiller is co-founder in 1991 of Case Shiller Weiss, Inc. in Cambridge, Mass., a producer of home price indices. The company was sold in 2002 to Fiserv, Inc. He is co-creator, with Karl Case, of the S&P/Case-Shiller Home Price Indices. He's also the former vice president of the American Economic Association and former president of the Eastern Economic Association. Professor Shiller's column; "Economic View," appears in the New York Times every five weeks, and his column, "Finance in the 21st Century," appears every other month in Project Syndicate, an international association of newspapers.

Achievements and Awards
William F. Butler Award, New York Association for Business Economics, 2012
Chicago Mercantile Exchange Group-Mathematical Sciences Research Institute Prize in Innovative Quantitative Applications, 2012
Paul A. Samuelson Award for Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks (Oxford University Press), 1996, and for Animal Spirits, 2009
Deutsche Bank Prize in Financial Economics, 2009
Research Associate, National Bureau of Economic Research
Fellow, American Academy of Arts and Sciences
Fellow, Econometric Society
Member, American Philosophical Society
Recipient, Guggenheim Fellowship

Selected Books
Finance and the Good Society, Princeton University Press, 2012

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

Irrational Exuberance, Princeton University Press, 2000 & 2005 Republished, Broadway Books, 2001, 2006

Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks, Oxford University Press, 1993

Market Volatility, MIT Press, Cambridge MA, 1989

Selected Articles
"What Have They Been Thinking? Home Buyer Behavior in Hot and Cold Markets" (with K. Case and A. Thompson), Brookings Papers on Economic Activity, 2012-II

"Hedging Real-Estate Risk" (with F. Fabozzi and R. Tunaru), Journal of Portfolio Management, Vol. 35, No. 5, 92-103, 2010

"Do Stock Prices Move Too Much to Be Justified by Subsequent Changes in Dividends?" American Economic Review, Vol. 71, No. 3, 421 36, June, 1981. (On the hundredth anniversary of the American Economic Review, in the centenary issue February 2011, this article was included a list of the “twenty most important papers published in the first 100 years of the journal.” )

Education
PhD Massachusetts Institute of Technology, 1972
SM Massachusetts Institute of Technology, 1968
BA University of Michigan, 1967