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Robert A. Mundell

University Professor Emeritus
School: 
School of the Arts
Department: 
Economics Department
Office: 
1031 International Affairs Building
Email: 
ram15@columbia.edu
Phone: 
212-854 3669
Biography

 For the past twenty five years, Robert Mundell has been Professor of Economics at Columbia University in New York . He studied at the University of British Columbia and the London School of Economics before receiving his Ph.D. from MIT. He taught at Stanford University and the Bologna (Italy) Center of the School of Advanced International Studies of the Johns Hopkins University before joining, in 1961, the staff of the International Monetary Fund. From 1966 to 1971 he was a Professor of Economics at the University of Chicago and Editor of the Journal of Political Economy; he was also summer Professor of International Economics at the Graduate Institute of International Studies in Geneva, Switzerland. In 1974 he came to Columbia University.

Professor Mundell has lectured widely in North and South America, Europe, Africa, Australia and Asia. He has been an adviser to a number of international agencies and organizations including the United Nations, the IMF, the World Bank, the Government of Canada, several governments in Latin America and Europe, the Federal Reserve Board and the US Treasury. In 1970, he was a consultant to the Monetary Committee of the European Economic Commission, and in 1972-3 a member of the nine consultants to the Commission that prepared a report in Brussels on European monetary integration. He was a member of the Bellagio-Princeton study group on International Monetary Reform from 1964 to 1978 and Chairman of the Santa Colomba Conferences on International Monetary Reform between 1971 and 1987.

The author of numerous works and articles on economic theory of international economics, he is known as the father of the theory of optimum currency areas; he formulated what became a standard international macroeconomics model; he was a pioneer of the theory of the monetary and fiscal policy mix; he reformulated the theory of inflation and interest; he was a co-developer of the monetary approach to the balance of payments; and he was an originator of supply-side economics. He has written extensively on the history of the international monetary system and played a significant role in the founding of the euro. He has also written extensively on the "transition" economies and in 1997 co-founded the Zagreb Journal of Economics.

His books include The International Monetary System: Conflict and Reform (Montreal: Private Planning Association of Canada 1965); Man and Economics (New York: McGraw-Hill 1968); International Economics New York: Macmillan 1968); Monetary Theory: Interest, Inflation and Growth in the World Economy (Pacific Palisades, CA: Goodyear 1971); The New International Monetary System (ed. with J. J. Polak) (1977); Monetary Agenda for the World Economy (ed. with Jack Kemp) (1983); and co-edited books Global Disequilibrium (1990); Debts, Deficits and Economic Performance (1991); and Building the New Europe (ed. with M. Baldassarri) (1992); Inflation and Growth in China (ed. with M. Guitian) (1996); and The Euro as a Stabilizer in the International Monetary System (ed. with A. Clesse) (2000).

Professor Mundell gave the Frank Graham Memorial Lecture at Princeton University in 1965, the Marshall Lectures at Cambridge University in 1974, the Ohlin Lectures in 1998, and the Robbins Memorial Lectures in 2000. In 1983 he received the Jacques Rueff Medal and Prize in the French Senate; in 1997 he became a Distinguished Fellow of the American Economic Association; in 1998, he was made a fellow of the American Academy of Arts and Science; and in 1999, he received the Nobel Memorial Prize in Economic Science. He has received honorary degrees and professorships in several universities in North America, Europe and Asia.

Research & Other Works
Article
Trade, Balance of Payments and Growth
Working paper
The international monetary system at the beginning of the new millennium
Working paper
National economic policies, currency areas and Arab monetary integration
Working paper
Notes on the development of the international macroeconomic model
Working paper
The international monetary system: quo vadis
Working paper
The birth of coinage
Working paper
Currency areas, volatility and intervention
Working paper
Monetary unions and the problem of sovereignty
 
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