Overview
Robert J. Shiller is an economist (Sterling Professor of Economics, Yale University) and co-recipient of the 2013 Nobel Prize in Economics, known for work on financial-market volatility, behavioral finance, speculative bubbles, and long-run asset-price data.
Key Contributions / Features
- Excess volatility and present-value tests (Campbell-Shiller 1987): with John Campbell, the cointegration-based test of present-value models, sharpening his earlier variance-bounds critique that stock prices are too volatile to be explained by dividends (Cointegration, Efficient Market Hypothesis).
- The Case-Shiller house-price indices, Irrational Exuberance, and foundational work in behavioral finance and speculative bubbles.
Related