Briefly: Shiller wins economics prize

The Center for Financial Studies at Goethe University in Frankfurt, Germany awarded economics professor Robert Shiller the Deutsche Bank Prize in Financial Economics on Wednesday. Given biennially, the prize honors an internationally renowned economic researcher and carries an endowment worth $64,000. The Arthur M. Okun Professor of Economics at Yale, Shiller is most famous for his book “Irrational Exuberance,” a New York Times bestseller which predicted the stock market crash of 2000. Shiller is also known for the Case-Shiller index, which measures price fluctuations in major residential real estate markets. The past recipients of the award are Eugene Fama of the University of Chicago in 2005 and Michael Woodford LAW ’80 of Columbia University in 2007.