‘Father of the Euro’ economist Robert Mundel dies… 88 years old

(Rome = Yonhap News) Correspondent Seong-Hoon Jeon = Canadian economist Robert A. Mundel, one of the designers of the Euro, a single currency system in Europe, died at the age of 88. The media reported on the 5th (local time).

After a long struggle, Professor Mundel closed his eyes on the morning of the 4th of Easter at a hospital in Siena, Tuscany in central Italy.

Professor Mundel, born in Canada and studied in the United States and the United Kingdom, is a person who theoretically established the relationship between inflation, interest rates, and growth.

In particular, he led the theory of international trade in the world economics in the 1960s by successively publishing the’optimal monetary region theory’ (1961) and’the monetary and fiscal policy theory under different interest rate regimes’ (1963) in 1961.

Among them, the optimal monetary area theory is an analysis of the most suitable area for using a single currency and the merits of a single currency, and is evaluated as providing the theoretical basis for the introduction of a single currency in Europe.

For this reason, nicknames such as “Euro Designer” and “Euro’s Father” accompany Mundel.

In recognition of this achievement, he won the Nobel Prize in Economics in 1999 when the euro was officially launched as a settlement currency.

In addition to economic theory, he was deeply involved in promoting economic integration in Europe, such as serving as an advisor to the European Economic and Monetary Union (EMU) and the European Monetary Commission in the 1970s.

In 2008, Mundel received attention by saying that it was possible to establish a pan-Asian monetary system if the agreement and appropriate coordination between Japan and China were supported.

In 2010, I went to Korea several times, including attending the Global Talent Forum hosted by the Korean government as a speaker.

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2021/04/05 20:16 sent