He is Visiting Professor at the School of Economics and Management, Aarhus University, from 2006 to 2010, and splits the academic year equally between Aarhus and Northwestern University.
After the war, the family moves to the Hood River Valley 60 miles east of Portland. Mortensen and his brothers are raised there.
The family spends the academic year 1970–71 on sabbatical visiting at the University of Essex in England.
He works on his PhD at what is then the Carnegie Institute of Technology (now Carnegie Mellon University).
He marries Beverly Patton in 1963. The couple has three children by the time he completes his PhD thesis.
Mortensen dies in Wilmette, IL. Jan 9, 2014
Dale Mortensen shares the 2010 Nobel Prize in Economics with Peter Diamond and Christopher Pissarides "for their analysis of markets with search frictions": One of his conclusions is that unemployment benefits have to be carefully pitched – too high and the unemployed have less incentive to find work, too low and they can slide into a poverty trap and become disengaged with the workforce. He has extended the insights from this work to study labor turnover and reallocation, research and development, and personal relationships.
He receives his Bachelor’s degree in economics from Willamette University.
He becomes a member of the faculty at Northwestern University in 1965. He works on the association between the inflation rate and the unemployment rate, which is debated at that time. According to one view, one can use monetary policy to lower unemployment, but at the expense of a higher rate of inflation. However, any attempt to maintain the unemployment level below its natural rate by monetary policy will be frustrated by increasing inflation, as people realize what is happening.
Dale Mortensen is born in Enterprise, OR.