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Robert F. Engle [1942-0] American

Rank: 106
Economist

Robert Fry Engle III is an American economist and the winner of the 2003 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, sharing the award with Clive Granger, "for methods of analyzing economic time series with time-varying volatility".

Environmental, Finance

Quote	Tags	Rank
My mother says that my father truly enjoyed having a son. My two-years-younger twin sisters felt that he didn't quite know how to enjoy them. But I wasn't aware of those things then. So many of my childhood memories involve him. All the excursions into science were shaped by his knowledge and enthusiasm.		101
When I am skating, economics is far away. I always return refreshed and ready to carry on.		102
I was convinced that the trading frequency measured a fundamental heartbeat of financial markets. Clearly it reflected the flow of information. It turns out also to be closely related to measures of liquidity.		103
The Nobel Prize in Economics is an incredible recognition for the work that my students, colleagues and I have done over the years. We all worked hard, but we were also lucky that the financial applications were so important.		104
The advantage of knowing about risks is that we can change our behavior to avoid them. Of course, it is easily observed that to avoid all risks would be impossible; it might entail no flying, no driving, no walking, eating and drinking only healthy foods, and never being touched by sunshine. Even a bath could be dangerous.		105
There are some risks we choose to take because the benefits from taking them exceed the possible costs. Optimal behavior takes risks that are worthwhile. This is the central paradigm of finance: we must take risks to achieve rewards, but not all risks are equally rewarded.	Finance	106
Why not put a tax on carbon emissions. It would raise a lot of money, it would reduce the environmental damages in the future, it would solve so many problems, and it would be a much more constructive thing to do than to think about raising the income tax.	Environmental	107
If the Chinese economy can be opened so that currencies are convertible, Chinese tourists can take money and go see the world. Chinese businessmen can go and buy property in the U.S. and France and every place. All of a sudden, it's just going to be a blossoming global economy. I think it's going to be good for everybody.		108

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