Prof. Robert Shiller Receives Truman Medal for Economic Policy

Robert Shiller, the Sterling Professor of Economics and professor of finance, received the Truman Medal for Economic Policy from the Truman Library & Museum in Kansas City, Missouri, on October 23, recognizing “his work analyzing U.S. residential real estate prices and as a developer of financial and behavioral economic policy and practice.”

The medal has been awarded biennially since 2005 to honor “extraordinary achievement in the formation and conduct of economic policy.” Previous recipients include  former Fed chairs Paul A. Volcker and Alan Greenspan. It was created to commemorate President Harry S. Truman’s creation of the Council of Economic Advisers in 1946.

After accepting the Truman Medal from Esther George, president and CEO of the Federal Reserve Bank of Kansas City, Shiller gave a talk on the role of narrative in economic policy. 

A winner of the 2013 Nobel Prize in Economic Sciences, Shiller is known for his research and writing on behavioral economics, financial bubbles, and real estate, among other areas. His books include Phishing for Phools: The Economics of Manipulation and Deception (2015),  Finance and the Good Society (2012), Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism (2009), Subprime Solution: How the Global Financial Crisis Happened and What to Do about It (2008), and Irrational Exuberance (2000). 

Watch Robert Shiller’s remarks at the Truman Medal award ceremony.