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Professor Robert A. Mundell, 1999 Nobel Laureate in Economic Sciences and Distinguished Professor-at-Large of The Chinese University of Hong Kong (CUHK), passed away yesterday (4 April) in Italy at the age of 88. CUHK is deeply saddened by the passing of Professor Mundell and extends sincere condolences to his family.

Professor Rocky S. Tuan, Vice-Chancellor and President of CUHK, expressed his great sorrow at the loss of Professor Mundell. “Professor Robert A. Mundell is one of the most prominent economics scholars in the world, whose outstanding intellectual contributions on international trade and monetary theories had profound and lasting impact on global economy and monetary systems, including the founding of the Euro. CUHK is honoured to have had Professor Mundell serving as its Distinguished Professor-at-Large since 2009 to provide leadership for educational and academic advancement of the University. Professor Mundell’s passing is a great loss for both CUHK and the international global academic community. On behalf of members of the University, I express our sincerest condolence to Professor Mundell’s family.”

Professor Mundell was born in 1932. After graduating from the University of British Columbia in Economics and Slavic Studies, he studied at the Massachusetts Institute of Technology (MIT) and the London School of Economics, receiving his PhD from MIT in 1956. He taught at Stanford University and The Johns Hopkins Bologna Center of Advanced International Studies before joining the International Monetary Fund in 1961. From 1966 to 1971, he was Professor of Economics at the University of Chicago and Editor of the Journal of Political Economy. Since 1974, he was Professor of Economics and since 2001, University Professor at Columbia University in New York.

Professor Mundell prepared one of the first plans for a common currency in Europe and was known as the “Father of the Euro”. In 1999, he received the Nobel Memorial Prize in Economic Sciences for “his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas”. He was appointed Companion of the Order of Canada in the same year, and in 2005 was awarded the Global Economics Award of the Kiel Institute, Germany, and appointed Cavaliere di Gran Croce del Reale Ordine del Merito sotto il Titolo di San Ludovico. He had also written extensively on the history of the international monetary system. His writings include over a hundred articles in scientific journals and books. Professor Mundell joined CUHK as Distinguished Professor-at-Large in 2009 and provided quality education and greatly strengthened scholarly collaborations between CUHK and premier international academic institutions.

Professor Mundell had received over fifty honorary professorships and doctorates. He was adviser to a number of international agencies and organizations, including the United Nations, the International Monetary Fund, the World Bank, the European Commission, the Federal Reserve Board and the Department of the Treasury of the United States, and the governments of Canada and several other countries in Latin America, Africa, Asia and Europe.