Born in 1942 in Germany, Rudiger Dornbusch was one of the most prominent economists of the post war period. In 1976, he introduced the overshooting theory in a groundbreaking paper, explaining  how exchange rates can temporarily exceed their long-term levels. He joined the Massachusetts Insti tute of Technology (MIT) in 1975 and was appointed Ford Professor in 1984, a prestigious endowed  chair. He is known for coining the term “macroeconomic populism”. In addition to his work in  academia, he advised many foreign governments on economic policy.