Career
Since 1974 he has been a professor in the Economics department at Columbia University; since 2001 he has held Columbia's highest academic rank – University Professor. After completing his post-doctoral fellowship at the University of Chicago in 1957, he began teaching economics at Stanford University and then at Paul H. Nitze School of Advanced International Studies in Johns Hopkins University. In 1961, he went on to staff the International Monetary Fund. Mundell returned to academics as professor of economics at the University of Chicago from 1966 to 1971, and then served as professor during summers at the Graduate Institute of International Studies in Geneva until 1975. In 1989, he was appointed to the post of Repap Professor of Economics at McGill University., In the 1970s, he laid the groundwork for the introduction of the euro through his pioneering work in monetary dynamics and optimum currency forms for which he won the 1999 Nobel Prize in Economics. During this time he continued to serve as an economic adviser to the United Nations, the IMF, the World Bank, the European Commission, the Federal Reserve Board, the United States Department of Treasury and the governments of Canada and other countries. He is currently the Distinguished Professor-at-Large of The Chinese University of Hong Kong.
Among his major contributions are:
- Theoretical work on optimum currency areas
- Contributions to the development of the euro
- Helped start the movement known as supply-side economics
- Historical research on the operation of the gold standard in different eras
- Predicted the inflation of the 1970s
- Mundell–Fleming model
- Mundell–Tobin effect
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