Nobel Prize Laureate to Discuss Euro’s Impact at Pace University

The 1999 recipient of the Nobel Memorial Prize in Economic Science, whose influence was felt from the supply-side economics of the Reagan years to the creation of the Euro, will present his views at Pace University.

The 1999 recipient of the Nobel Memorial Prize in Economic Science, whose influence was felt from the supply-side economics of the Reagan years to the creation of the Euro, will present his views at Pace University.

Robert Mundell, a Canadian-born economist, will speak on Tuesday, February 26, 2002, at the Michael Schimmel Theatre for the Arts at Pace University. A reception will be held from 5:00 p.m. – 6:00 p.m.. The lecture, The Euro: What does it Mean for the International Monetary System? will follow. The event is the Lubin School of Business’ Second Annual Henry George Symposium.

Dr. Mundell has been recognized by the Royal Swedish Academy of Sciences for his contributions to international economics as the first theorist to demonstrate how the international flow of capital could affect an individual country’s ability to manage its own economy through interest rate changes and tax and budget policies. Although that discovery may seem commonplace today, when Dr. Mundell was developing his prize-winning theories in the early 1960s, most nations heavily regulated the flow of capital across their borders, and governments tinkered with their own economies without much attention to global currency movements.

The Nobel Prize winner also contributed substantially to the emergence of a common currency for Europe, known as the Euro. He asserted that it is difficult to transition to a fixed exchange rate without a common currency.

Dr. Mundell earned his doctorate in economics in 1956 from M.I.T. after spending a year at the London School of Economics. He is presently a professor of economics at Columbia University.

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