Bitcoin’s price is supported by the “animal spirits” of those betting on it, not by economic fundamentals. No wonder the market has been chaotic.

An economist says the three major U.S. markets all show signs of severe overpricing.

A debate between Robert Shiller and Burton Malkiel

Two new studies show how changing beliefs about the financial future can destabilize the economy, perhaps even for decades.

A Nobel laureate is cautiously positive about the market for the long run but worries about how long that will need to be.

The Great Depression of the 1930s was an economic downturn that became a prolonged malaise. A Nobel laureate asks whether that pattern might be repeated.

This four-part series examines how easy it is to hack your mind and what you can do.

Stocks could well rise despite investor worries, the economist Robert Shiller says, but this is a high-risk moment.

A portrait of a vulnerable America.

Why understanding dramatic economic events requires searching for the narratives that underlie them.

Robert J. Shiller explains why US equity prices remain afloat when cratering demand is dragging down investment and employment.

In his new book, Narrative Economics: How Stories Go Viral and Drive Major Economic Events, Professor Robert Shiller explores a typically overlooked driver o...

To understand where the stock market may be heading, a Nobel laureate examines the pop culture of one of the greatest bull markets in history.

It wasn’t originally about owning a beautiful home and a roaring business. It meant freedom, mutual respect and equality of opportunity.

The perception that the president-elect is a business genius and too much focus on the Dow Jones have led to excessive optimism

The economist Robert Shiller says the rise in housing prices is the third biggest since 1913. The biggest boom ended disastrously in 2006.

Inflation-corrected prices may end up substantially lower as factors driving high home prices weaken with time.

Coronavirus fears are feeding financial and economic anxiety and vice versa. Breaking the cycle will not be easy, but it is possible

Past stock returns may be the best guide to the future, but they aren’t as reliable as many investors think.

G.D.P.-linked bonds, which could be immensely valuable in the next big recession, may seem strange now. But that has been true for many financial innovations.

Houses are getting more and more expensive. There’s a simple fix for that.

Friday morning President Donald Trump tweeted, “I have no doubt that, if the attack on Dr. Ford was as bad as she says, charges would have been immediately filed with local Law Enforcement Au…

Urgent goals might justify more debt for a while, the economist Robert Shiller says, but this does not license unlimited spending or endlessly accelerating debt.

A debate between Robert Shiller and Burton Malkiel

Robert J. Shiller thinks governments should encourage “livelihood insurance” by subsidizing coverage for at-risk jobs.

The poor and middle class might end up living in a nightmare world of joblessness and danger unless we act to address the growing wealth gap.

Valuations of bitcoin have reached unprecedented highs, and there are now close to 1,000 different crypto-assets on the market. Are these assets finally coming into their own or are they the seed of...

Investors are no longer skeptical enough about corporate earnings and in turn have made the U.S. stock market the most expensive in the world, says Yale economist Robert Shiller.

It may be a compelling slogan, but greatness isn’t easily captured, and it surely involves more than accumulating dollars.

Robert J. Shiller views the selection of this year's laureate, Richard Thaler, as further vindication of the behavioral approach.

Stocks are expensive, and many people know it. That could mean trouble down the road.

Modern economies alternate between booms and recessions for reasons that are imperfectly understood and generally outside a president’s control.

The boom and bust cycle in the housing market had terrible consequences. Yet unless we fully understand its causes, we may end up repeating it.

Success of remote working during pandemic raises prospect that many workers will not return to offices

The political dangers get all the attention, but the business effects could weigh on the United States for years, a Nobel laureate says.

Bill Gates says governments could use a robot tax to fund human services – it would also help remedy income inequality

Robert J. Shiller emphasizes the importance of long-term thinking in today’s elevated housing market.

Narrative Economics and Monetary Policy — Address by Robert Shiller, 2013 Nobel Laureate for Economic Sciences, Yale University, with introductory remarks by Paul Beaudry, Deputy Governor.

Once a narrative takes hold, it can drive markets

Narrative psychology suggests that popular narratives, particularly human-interest stories, are fundamental drivers of motivation.

Symptoms of anxiety and depression are widespread during the pandemic, according to the Census Bureau’s new Household Pulse Survey.

Consumers are reluctant to spend because of new technologies that could eventually replace many or most of their jobs

Robert J. Shiller considers the late Vanguard founder Jack Bogle a hero to investors, but not a flawless one.

"You can spin this report any way you want," says Yale professor Robert Shiller. "The unemployment rate is a fuzzy number."

While it is easy to bet on politics, earthquakes or the weather, it’s virtually impossible to invest in the most basic thing of all: the economy.

President Trump is a public figure like no other, and his unique — and polarizing — effect on mass psychology makes economic predictions even tougher than usual.

Corporate income taxes have declined sharply for decades. Sharp increases have occurred mainly during major wars.

While the idea of governments issuing debt instruments whose repayments are indexed to GDP is not new, the current global backdrop of high government debt suggests the case for doing so might be...

May22 will be the 15th anniversary of the first trade in the CME S&P Case Shiller futures. I've pulled together a high-level recap of some key themes, which will be followed by blogs going into much...

It’s true, as the adage goes, that they’re not making land anymore, but technology that allows more intensive use of land has held down values in the long term.

Issuing GDP-linked bonds is akin to buying insurance against economic distress

Economist, author, and Nobel Laureate Robert Shiller of Yale University discusses his book Narrative Economics with EconTalk host Russ Roberts. Shiller proposes a novel idea–that the narratives that...

Big economic changes come when popular narratives mutate and spread, infecting the decisions of millions of people, the economist Robert J. Shiller says.

Robert Shiller is a Nobel Prize-winning economist, a professor at Yale University, and the author of "Narrative Economics: How Stories Go Viral and Drive Maj...

From New York University to Berkeley, Bitcoin has set off a dash to understand the technology and economic risks of virtual currency.

Ratios between stock market valuations and GDP is at levels only seen in previous equity bubbles

Stock prices are high but an expert on bubbles says the psychological underpinnings of this market appear to be different from those of 1929 or 2000.

Major shifts in the economy should be foreseeable, but no one forecast such massive rises

In an economic downturn Americans will reassess their president’s unreal narrative and random management style

To those with average and low incomes, his simple slogan ‘make America great again’ sounded like ‘make you great again’

A new book from the Nobel laureate economist looks at the enduring stories of machines stealing our jobs.

People’s uncertainties about their personal futures are affecting our economic world in ways we don’t entirely understand.

The stories people tell one another about the state of the economy can translate into reduced spending, which may, in turn, contribute to a downturn.

Popular definitions for “bear markets” aren’t scientifically based, the economist Robert Shiller says, yet they can contribute to downward spirals.

Suburbs and fashionable exurbs are hot, but don’t forget that home prices have fallen before, a Nobel laureate warns.

With the proper approach, modern business could improve the work of government institutions.

It turns out that your brain on grievances looks a lot like your brain on drugs. And that’s a problem not just for the outgoing president, but for the rest of us.

Another intellectual rebellion, in which accepted realities became intolerable injustices, looks destined to take place this century

Nobel laureates Robert J. Shiller and George Akerlof discuss their new book “Phishing for Phools.” They explain how free market forces lead some people to manipulate and deceive others and why...

Short-selling helps prevent bubbles in the stock market, but such negative bets can’t easily occur in the home market.

Poor and working-class Americans have fallen behind the rest of the country. A tweak of the tax system could help them, but it wouldn’t be cheap.