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Nobel award recognizes efficiency and effervescence

There were lots of congratulations, and a little market scare, when the Nobel Prize for economics was awarded Monday. Recipient Yale Professor Robert Shiller, speaking about the looming debt default: SOUNDBITE: 2013 NOBEL ECONOMIC PRIZE WINNER ROBERT SHILLER (ENGLISH) SAYING: "I'm thinking that this crisis will likely be resolved. We won't see a default. Even if we do it will be for one day, or something like that and even if it's longer I think it's not- it's not the end of the world and the markets might drop 7% on some day and then come back up. I should add, however, I do not know the future and I could be wrong." He added that the Fed's economic stimulus and growing market speculation were creating a bubbly property boom- in markets around the world. Shiller is well known for his high profile calls- the stock market crash of 2000 and the most recent housing market bubble. As is typical among economists- his views are in stark contrast to his fe

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