Stanley Fischer Imf Essays From A Time Of Crisis

Biography

Stanley Fischer
Governor, Bank of Israel

Stanley Fischer has been Governor of the Bank of Israel since May 2005.

Prior to joining the Bank of Israel, Mr. Fischer was Vice Chairman of Citigroup from February 2002 through April 2005, where he was also Head of the Public Sector Group from February 2004 to April 2005, Chairman of the Country Risk Committee, and President of Citigroup International.

Mr. Fischer was the First Deputy Managing Director of the International Monetary Fund, from September 1994 until the end of August 2001.

Before he joined the IMF, Mr. Fischer was the Killian Professor and Head of the Department of Economics at MIT (Massachusetts Institute of Technology). From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank.

Mr. Fischer was born in Zambia in 1943. He took the B.Sc (Econ) and M.Sc. (Econ) at the London School of Economics from 1962-66, and obtained his Ph.D. in economics at MIT in 1969. He was Assistant Professor of Economics at the University of Chicago until 1973, when he returned to the MIT Department of Economics as an Associate Professor. He became Professor of Economics in 1977. He has held visiting positions at the Hebrew University, Jerusalem, and at the Hoover Institution at Stanford.

Mr. Fischer is the author of Macroeconomics (with Rudi Dornbusch and Richard Startz, 9 th edition, 2004). He is also the author of Lectures in Macroeconomics (MIT Press, 1989, with Olivier Blanchard), Economics (second edition, McGraw Hill, 1988, with Rudiger Dornbusch and Richard Schmalensee), IMF Essays From a Time of Crisis (MIT Press, 2004) and Indexing, Inflation, and Economic Policy (MIT Press, 1986) and the editor of other books, among them Securing Peace in the Middle East (MIT Press, 1994). From 1986 to 1994 he was editor of the NBER Macroeconomics Annual ; he has also served as Associate Editor of other economics journals. He has published extensively in the professional journals.

Mr. Fischer is a Fellow of the Econometric Society and the American Academy of Arts and Sciences, a member of the Council on Foreign Relations, the G-30, and the Trilateral Commission, a Guggenheim Fellow, and a Research Associate of the National Bureau of Economic Research. He has served on the Boards of the Institute for International Economics, Women's World Banking and the International Crisis Group, as well as the International Advisory Board of the New Economic School, Moscow.

For more information, please see Mr. Fischer's curriculum vitae at curriculum vitae.

May 2 , 2005

A deeply thoughtful and engaging collection of essays from a justly celebrated academic economist and policymaker who, for seven years as No. 2 at the International Monetary Fund, flew into the eye of the greatest international financial storms of the modern era.

(Kenneth S. Rogoff, Professor of Economics and Director of the Center for International Development, Harvard University)

One has trouble thinking of another economist--at least, since Keynes!--who has done as well as Stan Fischer at combining analytical skill, good policy sense, clear expression, selfless dedication toward making the world a better place, and the ability to get everything done, and with imperturbable good humor as well. This book considers the important macroeconomic issues that faced him as No. 2 at the IMF. The aim is to get at the best available answers to these questions, rather than to participate in a trumped-up and simplistic public debate over whether or not the IMF and globalization are truly evil.

(Jeffrey Frankel, Harpel Professor of Capital Formation and Growth, Kennedy School of Government, Harvard University)

This new volume by one of the world's leading economists contains both enormous breadth of topical coverage and unparalleled depth of substantive insight. It is nothing short of amazing that Dr. Fischer could write such penetrating, indeed path-breaking, analyses while simultaneously managing much of the world economy from his top post at the IMF. This is surely one of the finest collections of essays ever published.

(C. Fred Bergsten, Director, Institute for International Economics)

While serving as First Deputy Managing Director of the IMF during some of the busiest years in its history, Stanley Fischer found time to write sixteen superb papers. Those who have read some of them will profit from rereading them, and they should read the rest -- as well as the new introductions in which Fischer explains why each paper was written and, in some instances, how his views have changed.

(Peter Kenen, Professor of Economics and International Finance, Princeton University)

The reader finds a top-notch economist working on the major problems of economic stability and development. The book is the best available guide to the logic and practice that guided the IMF through the turbulent 1990s.

(Allan H. Meltzer, The Allan H. Meltzer Professor of Political Economy, Carnegie Mellon University, Visiting Scholar, American Enterprise Institute)

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