Stanley Fischer
| New Keynesian economics | |
|---|---|
 Stanley Fischer, Governor of the Bank of Israel |
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| Born | 15 October 1943 Northern Rhodesia (Now Zambia) |
| Nationality | Israel, United States |
| Institution | Bank of Israel 2005– Citigroup 2002–05 International Monetary Fund 1994–01 World Bank 1988–90 MIT 1973-88, 1990–94 |
| Field | Financial economics |
| Alma mater | MIT (Ph.D.) LSE (B.Sc., M.Sc.) |
| Influences | Franklin M. Fisher |
| Influenced | N. Gregory Mankiw Ben S. Bernanke Kenneth Rogoff |
Stanley "Stan" Fischer (Hebrew: סטנלי פישר; born 1943) is an American-Israeli economist and the current Governor of the Bank of Israel. He previously served as Chief Economist at the World Bank.[1]
Contents |
[edit] Biography
Born in Northern Rhodesia (now Zambia) on 15 October 1943, he obtained his B.Sc. and M.Sc. at the London School of Economics from 1962–1966 and his Ph.D. at MIT in 1969, all in economics.
[edit] Academic career
He was a professor at the MIT Sloan School of Management from 1977 to 1988, where he authored two popular economics textbooks, Macroeconomics (with Rüdiger Dornbusch and Richard Startz), and Lectures on Macroeconomics (with Olivier Blanchard). He was also Ben Bernanke's and Greg Mankiw's Ph.D. thesis advisor.[2]
[edit] Banking career
From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank. He then became the First Deputy Managing Director of the International Monetary Fund (IMF), from September 1994 until the end of August 2001. By the end of 2001, Fischer had joined the influential Washington-based financial advisory body, the Group of Thirty. After leaving the IMF, he served as Vice Chairman of Citigroup, President of Citigroup International, and Head of the Public Sector Client Group. Fischer worked at Citigroup from February, 2002 to April, 2005. He became Governor of the Bank of Israel on May 1, 2005, replacing David Klein, who ended his term on January 16, 2005. Fischer became an Israeli citizen, the aforementioned action being a prerequisite to this appointment. He has been involved in the past with the Bank of Israel, having served as an American government adviser to Israel's economic stabilization program in 1985. On May 2, 2010, Fischer was sworn in for a second term.[3]
Under his management, in 2010, The Bank of Israel was ranked first among central banks for its efficient functioning, according to IMD's World Competitiveness Yearbook.[4]
Fischer has earned plaudits across the board for his handling of the Israeli economy in the aftermath of the global financial crisis. In September 2009, the Bank of Israel was the first bank in the developed world to raise its interest rates.[5]
In 2009 and 2010, Fischer received an "A" rating on the Central Banker Report Card published by Global Finance magazine.[6][7]
In June 2011, Fischer applied for the post of IMF managing director to replace Dominique Strauss-Kahn, but was barred as the IMF stipulates that a new managing director must be no older than 65, and he was 67 at the time.[8][9] There is some discussion that his nationality may have influenced this decision.[10]
[edit] Recognition
Fischer received an honorary doctorate from Hebrew University in 2006.[11]In October 2010, Fischer was declared Central Bank Governor of the Year by Euromoney magazine. [12] Fischer received the award at a reception at the Willard Intercontinental hotel in Washington, D.C. [13]during a World Bank and International Monetary Fund conference. [14]
He is a member of the Bilderberg Group and attended the Swiss 2011 Bilderberg conference in St. Moritz, Switzerland.[15]
[edit] References
- ^ Ewing, Jack (12 June 2011). "Bank of Israel Chief Enters Race to Lead I.M.F". The New York Times. http://www.nytimes.com/2011/06/13/business/global/13fischer.html.
- ^ "Good News". Greg Mankiw's Blog. 18 May 2011. http://gregmankiw.blogspot.com/2011/05/good-news.html.
- ^ Adrian Filut (2 May 2010). "Stanley Fischer sworn in for second term". Globes. http://www.globes.co.il/serveen/globes/docview.asp?did=1000556585&fid=942. Retrieved 2 May 2010.
- ^ Viniar, Olga (20 May 2010). "Israel's economy most durable in face of crises". ynetnews.com. http://www.ynetnews.com/articles/0,7340,L-3891801,00.html. Retrieved 23 October 2010.
- ^ Levy, Tal; Bassok, Moti (25 August 2009). "Israel central bank first in developed world to raise interest". Haaretz. http://www.haaretz.com/print-edition/business/israel-central-bank-first-in-developed-world-to-raise-interest-1.282630. Retrieved 23 October 2010.
- ^ "World's Top Central Bankers 2009". Global Finance. 28 September 2010. http://www.gfmag.com/tools/best-banks/2479-the-worlds-top-central-bankers-2009.html. Retrieved 23 October 2010.
- ^ "Global Finance Magazine names the World’s Top Central Bankers 2010". Global Finance. 9 September 2010. http://www.gfmag.com/tools/best-banks/10618-worlds-top-central-bankers-2010.html. Retrieved 23 October 2010.
- ^ Wroughton, Lesley (13 June 2011). "Lagarde, Carstens shortlisted for IMF race -officials". Reuters. http://www.reuters.com/article/2011/06/13/imf-candidates-idUSN1314405820110613.
- ^ Three Way Race for New IMF Chief
- ^ "Why Stanley Fischer should head the IMF". Euromoney. 25 May 2011. http://www.euromoney.com/Article/2836726/Why-Stanley-Fischer-should-head-the-IMF.html.
- ^ "Stanley Fischer: The Israeli economy". bis.org. http://www.bis.org/review/r060620c.pdf. Retrieved 23 October 2010.
- ^ "Central bank governor of the year 2010: Stanley Fischer’s bold moves show the value of experience". Euromoney magazine. October 2010. http://www.euromoney.com/Article/2682278/Central-bank-governor-of-the-year-2010-Stanley-Fischers-bold-moves-show-the-value-of-experience.html?single=true.
- ^ "Kudrin and Fischer honoured by Euromoney at IMF/World Bank meetings in Washington". 10 October 2010. http://www.euromoney.com/Article/2683869/Category/1/ChannelPage/0/Kudrin-and-Fischer-honoured-by-Euromoney-at-IMFWorld-Bank-meetings-in-Washington.html.
- ^ "Stanley Fischer chosen top central banker". The Jerusalem Post. 10 October 2010. http://www.jpost.com/International/Article.aspx?id=190878. Retrieved 23 October 2010.
- ^ "Bilderberg 2011 list of participants". BilderbergMeetings.org. http://www.bilderbergmeetings.org/participants_2011.html. Retrieved August 24, 2011.
[edit] External links
- Profile at the Bank of Israel
- Profile at the International Monetary Fund
- Profile at Bloomberg Businessweek
- Profile at Forbes
- Profile at the Council on Foreign Relations
- Profile at the Peterson Institute for International Economics
- Publications at the National Bureau of Economic Research
- Column archive at Project Syndicate
- Appearances on C-SPAN
- Stanley Fischer on Charlie Rose
- Stanley Fischer at the Internet Movie Database
- Works by or about Stanley Fischer in libraries (WorldCat catalog)
- Stanley Fischer collected news and commentary at The Economist
- Stanley Fischer collected news and commentary at Ha'aretz
- Stanley Fischer collected news and commentary at The Jerusalem Post
- Stanley Fischer collected news and commentary at The New York Times
- Stanley Fischer collected news and commentary at The Wall Street Journal and MarketWatch
- Interview: Stanley Fischer, Commanding Heights, PBS, May 9, 2001
- Articles
- "Exchange Rate Regimes: Is the Bipolar View Correct?", International Monetary Fund, Distinguished Lecture on Economics in Government, American Economic Association and the Society of Government Economists. Delivered at the Meetings of the American Economic Association, New Orleans, January 6, 2001
- Stanley Fischer: The Life of an Internationally Renowned Economist, Citigroup, August 13, 2004
- Why so gloomy on the global economy?, The Banker, 4 October 2004
- Citigroup's Fischer to Head Israel's Central Bank, Bloomberg, January 9, 2005
- Israel looks to US for bank chief, BBC News, 10 January 2005
- C. Peter McColough Series on International Economics: The Israeli Economy: Thriving in a Complicated Environment, Council on Foreign Relations, October 18, 2007
| Business positions | ||
|---|---|---|
| Preceded by Anne Krueger |
World Bank Chief Economist 1988–1990 |
Succeeded by Lawrence Summers |
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- Governors of the Bank of Israel
- 1943 births
- Alumni of the London School of Economics
- American businesspeople
- American emigrants to Israel
- American Jews
- American economists
- Central bankers
- Fellows of the American Academy of Arts and Sciences
- Fellows of the Econometric Society
- Group of Thirty
- International finance economists
- Israeli businesspeople
- Israeli economists
- Israeli Jews
- Israeli people of American origin
- Living people
- Macroeconomists
- Massachusetts Institute of Technology alumni
- Massachusetts Institute of Technology faculty
- World Bank Chief Economists
