Economist to discuss 'irrational exuberance' in Steine Lecture

by Lew Harris

Robert J. Shiller, a noted economist from Yale University, will speak on "irrational exuberance" in the stock market when he delivers the 24th annual David Steine Memorial Lecture Sept. 21 at Vanderbilt.

Shiller

Shiller will speak at 4:15 p.m. in Room 103 of Wilson Hall. His lecture is free and open to the public. Shiller's talk will be followed by a wine and cheese reception in the Wilson Hall Lobby.

The Stanley B. Resor Professor of Economics at Yale, Shiller is one of the country's leading authorities on the market valuation of both residential housing and financial assets such as stocks and bonds. He has written or co-authored three books and more than 120 scholarly articles.

Shiller's latest book, Irrational Exuberance, received this year's Commonfund Prize. His research on market volatility has focused both on its sources and ways society can protect itself from the consequences of market booms and busts.

In addition to teaching at Yale, Shiller serves on the academic advisory panel to the Federal Reserve Bank of New York and on the editorial boards of several journals in economics and finance. Since 1979, he has also been a research associate with the National Bureau of Economic Research.

Shiller received his Ph.D. in economics from MIT in 1972 and taught at the University of Minnesota and the University of Pennsylvania prior to joining the Yale faculty in 1982.

The Steine Lecture Series was established in 1978 to honor the memory of David Steine, a professor of business administration in the College of Arts and Science at Vanderbilt from 1951 until his death in 1976. Each lecture addresses an economic problem of interest to the general public.