Nouriel Roubini

Nouriel Roubini ( born March 29, 1958 in Istanbul, Turkey) is an American economist. He is a professor at the members of the New York University Stern School of Business and founder and chairman of Roubini Global Economics LLC, a provider of capital market and economic information. Prior to serving as a professor, he was adviser to the Treasury of the United States.

Life and work

Nouriel Roubini was born as the son of Iranian Jews in Istanbul. His family moved to Tehran when he was two years old then. According to Tel Aviv, and later to Italy and finally in the U.S. He grew up primarily in Italy and went to school there. Therefore Roubini speaks not least in addition to English or Persian, Hebrew and Italian, and refers to himself as " global nomads ". He was always in the role of outsider, which may have contributed to the fact that he does not care to date to majority opinions.

Roubini studied from 1977 to 1982 at the Bocconi University of Economics, after studying for a year before at the Hebrew University of Jerusalem. After graduating in 1983, he moved to Harvard University, where he received his doctorate in 1988. His doctoral advisor Jeffrey Sachs, he impressed with his double talent: Nouriel Roubini felt well in mathematics at home as in the analysis of political and economic institutions.

At Yale University Roubini taught from 1988 until 1995., Where he met Robert Shiller, those economists who recognized the dotcom bubble with internet and technology stocks very early. He then moved to the Stern School of Business in New York City, where he is a professor today.

In 1997 he created at the Gathering Asian crisis with his students a site that was compiling all available articles and studies on the subject and was named by The Economist as the best economic site of the year. Then Roubini was appointed by then- Treasury Secretary Lawrence Summers in his senior staff.

After his political interlude was over with the end of the reign of Bill Clinton, he continued to work on his web project for macroeconomics and fiscal policy, from which, in cooperation with businesswoman Camilla LeBlanc 2004, the consulting and analysis firm Roubini Global Economics ( RGE ) was created, with now 50 employees and 1,000 paying customers, including financial institutions, government agencies and more than 50 central banks from around the world. In active management is particularly the n-tv presenter Sandra Navidi. The contents are partly free. For exclusive analyzes the company requires at a minimum order of ten subscriptions total 20,000 U.S. dollars for universities and other non-profit organizations apply reduced rates.

Despite many hostility and ridicule from the art ( " Dr. Doom " = " Dr. Downfall" ) Nouriel Roubini warned since 2004, always in front of a bursting of the housing bubble and the resulting "hard landing" for the U.S. economy. In 2006, he said a recession in the U.S. with a global impact ahead. In 2008, he warned that the current financial crisis had just started with the bankruptcy of Bear Stearns first, and the world economy threatens collapse. He recommended the nationalization of the banks concerned; it would be better, " better yet, buy all the banks [ to ] and they then make money [ to ] " than to subsidize them through a purchase of bad loans. The total losses he figured the beginning of 2008 at least one trillion dollars, an estimate that seemed adventurous to the IMF it has made a habit shortly thereafter.

In January 2009, he corrected that number to up to $ 3.6 trillion and was once again a similar estimate of the IMF for three months ahead.

On 27 April 2010 forecast Roubini that an austerity program in the amount of 10 percent of government spending for Greece was not feasible in the long run with the Greek population. If there were but realized that it would have a disastrous effect on the Greek economy. He also said that Greece a higher debt -to-GDP ratio was as Argentina in 2001. Did Spain due to its high unemployment and the housing bubble very poorly performing banks and thus a worse situation than Greece. Even if the IMF -EU bailout package for Greece with the Greek austerity program is a good step that he expected during and towards the end of the three year term of the package many " unexpected and chaotic " events to a national bankruptcy of the two states. Banks would have to pay much higher risk premiums in the Euribor trading. End of January 2013 he admitted to have come up with the prediction, Greece will emerge from the 2012 Euro - zone, and wrong to have been surprised by the purchasing program for government bonds by the ECB.

Roubini has never married and lives alone in Tribeca, Manhattan. The mid-1990s, he received U.S. citizenship.

Reception

Anirvan Banerji, former economist at New York's Columbia University, Roubini stopped before, " predictions using analogies to make "; this approach was " subjective." Princeton economist Markus Brunner Meier interprets that Roubini. While many academics have retreated in model worlds, Roubini set to deal with realistic problems and have so located with his predictions right.

Roubini's book " The End of the world economy and its future " (English Original title: Crisis Economics: A Crash Course in the Future of Finance ) was published on 11 May 2010 in many countries, and has since been vividly discussed in public.

Memberships and Awards

• Professor of the Year 1997-1998, Stern School of Business
• Member of the Bretton Woods Committee since 2003
• Member, Academic Advisory Committee, Fiscal Affairs Department, International Monetary Fund since 2002
• International Monetary Fund, Consultant, Independent Evaluation Office; since the summer of 2003.

Others

Roubini plays in the movie Wall Street: Money Never Sleeps Oliver Stone himself in a scene that plays immediately after the Lehman bankruptcy, it will be by a television as " Dr. Doom " interviewed and expressed his concerns about the future of the global financial system.

Publications

• With Alberto Alesina & Gerald D. Cohen: Political Cycles and the Macroeconomy. MIT Press, 1997, ISBN 0-262-51094-4,
• Giancarlo Corsetti, Paolo Pesenti with &: Paper Tigers? A Model of the Asian Crisis. In: European Economic Review. July 1999
• Brad Setser: Bailouts or Bail -ins? Responding to Financial Crises in Emerging Economies. Peterson Institute, 2004, ISBN 978-0-88132-371-9
• Marc Uzan (ed.): New International Financial Architecture. Volume 1 Edward Elgar Publishing, 2006, ISBN 1-84376-808-9
• Stephen Mihm: Crisis Economics: A Crash Course in the Future of Finance. The Penguin Press, 2010, ISBN 1-59420-250-8 German edition: Crisis Economics. The end of the world economy and its future. Campus -Verlag, Frankfurt / New York 2010, ISBN 978-3-593-39102-1