ECONOMICS: Robert A. Mundell 1999 - Latimer, Ontario
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mTn_biKer65
N 44° 21.682 W 076° 30.660
18T E 379594 N 4913119
Located at the intersection of Latimer Road and Holmes Road in Latimer, Ontario
Waymark Code: WMTRR8
Location: Ontario, Canada
Date Posted: 01/04/2017
Views: 7
"Robert A. Mundell
Born: 24 October 1932, Kingston, ON, Canada
Affiliation at the time of the award: Columbia University, New York, NY, USA
Prize motivation: "for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas"
Field: international macroeconomics
Contribution: Analysed international macroeconomic policy and demonstrated the importance of the exchange rate regime, and how barriers to migration and capital movements stimulate commodity trade.
Prize share: 1/1
Work
Exchange rates among different currencies are an important factor in business and the economy. In the beginning of the 1960s, Robert Mundell analyzed the effects of political actions on this area, including the consequences if exchange rates remain fixed or are allowed to be governed by the market. He maintained that it could be advantageous for several countries to introduce a common currency, provided that the labor force has a great deal of mobility. Robert Mundell's theories had relevance for the introduction of the euro as the European Union's currency" (
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Plaque Text: THIS MONUMENT HONOURS
ROBERT A. MUNDELL PH.D.,
1999 NOBEL LAUREATE
IN ECONOMICS
Whose first years of formal education
Began in South Frontenac Township
In a one-room schoolhouse
Just east of here.
Dedicated by
The Davies Charitable Foundation
In Cooperation With
South Frontenac Township
OCTOBER 16, 2002