Died scientist Robert Mundell, who is called “the father of the euro”
Canadian scientist Robert Mundell, 1999 Nobel laureate in economics and “father of the euro”, died in Italy at the age of 88, local news agency Adnkronos reported.
Mundell died on the morning of April 4 in a Tuscan hospital after a long illness. For the past 30 years, he has alternately lived in the province of Tuscany Siena, then in New York.
Mundella has been called the “mastermind” and “father” of the euro. In the early 1960s, he co-authored the theory of optimal currency zones – areas where multiple territories can achieve common monetary policy goals at the lowest cost.
The scientist taught at a number of universities, but most of the time he worked at New York's Columbia. In the 1970s, he served on the finance committee of the Economic and Monetary Union, which became the prototype of the current European Union. In 1999, the economist was awarded the Nobel Prize for the analysis of monetary and fiscal policy in the framework of various exchange rate regimes, as well as the analysis of optimal currency zones. Thus, Mundell's research laid the foundation for the emergence of the European currency.
