Mundell, Robert
Canadian economist who received the Nobel Prize in Economics in 1999 for his analysis of the optimum currency area and his work on the scope of monetary and fiscal policy under different exchange rate regimes.
In the 1960s, Mundell developed the concept of optimum currency areas - optimum from the point of view of maximizing the benefits of international trade and securing internal and external balance. In 1969, he devised a plan for a European currency, called the Europa, and in the 1970s advised the European Commission on alternative routes to monetary union. But his fame with economists rests rather on his analysis of the impact of monetary and fiscal policies under alternative systems of fixed and flexible exchange rates. He was an early advocate of supply-side economics and a pioneer in advancing the monetary approach to the balance of payments.
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