|New Keynesian economics|
Stanley Fischer, Governor of the Bank of Israel
15 October 1943 |
Mazabuka, Northern Rhodesia (now Zambia)
|Institution||Bank of Israel 2005–
International Monetary Fund 1994–01
World Bank 1988–90
MIT 1973-88, 1990–94
|Alma mater||MIT (Ph.D.)
LSE (B.Sc., M.Sc.)
|Influences||Franklin M. Fisher|
|Influenced||N. Gregory Mankiw
Ben S. Bernanke
Fischer was born into a Jewish family in Mazabuka, Northern Rhodesia (now Zambia). When he was 13, his family moved to Southern Rhodesia (now Zimbabwe), where he became active in the Habonim Zionist youth movement. His family later moved to the United States. In 1960, he visited Israel as part of a winter program for youth leaders, and studied Hebrew at kibbutz Ma'agan Michael. He had originally planned to study at the Hebrew University of Jerusalem, but went to the United Kingdom to study after receiving a scholarship from the London School of Economics, and obtained his B.Sc. and M.Sc. in economics from 1962–1966. Fischer then moved to the United States to study at MIT, and earned a Ph.D. in economics in 1969 with thesis titled Essays on assets and contingent commodities. In the early 1970s, Fischer worked as an associate professor at the University of Chicago. He became an American citizen in 1976.
Fischer is married to Rhoda Fischer (nee Keet), who had met during his days in Habonim. The couple have three children. When they moved to Israel, Rhoda became honorary president of Aleh Negev, a rehabilitation village for the disabled.
Academic career 
Fischer served as a professor at the MIT Sloan School of Management from 1977 to 1988, where he authored three popular economics textbooks, Macroeconomics (with Rüdiger Dornbusch and Richard Startz), Lectures on Macroeconomics (with Olivier Blanchard), and the introductory Economics, with David Begg and Rüdiger Dornbusch. He was also Ben Bernanke's and Greg Mankiw's Ph.D. thesis advisor. In 2012, Fischer served as Humanitas Visiting Professor in Economic Thought at the University of Oxford.
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.
Governor of the Bank of Israel 
Fischer was appointed Governor of the Bank of Israel in January 2005 by the Israeli cabinet, after being recommended by Prime Minister Ariel Sharon and Finance Minister Benjamin Netanyahu. He took the position on May 1, 2005, replacing David Klein, who ended his term on January 16, 2005. Fischer became an Israeli citizen but did not have to renounce his American citizenship, despite previous concerns that such a step was a prerequisite for the appointment. 
He had 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.
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.
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. There is some discussion that his nationality may have influenced this decision.
On January 29, 2013, Fischer announced he would be stepping down as governor of the Bank of Israel on June 30th.
Fischer received an honorary doctorate from Hebrew University in 2006. In October 2010, Fischer was declared Central Bank Governor of the Year by Euromoney magazine.  Fischer received the award at a reception at the Willard Intercontinental hotel in Washington, D.C. during a World Bank and International Monetary Fund conference.
- Ewing, Jack (12 June 2011). "Bank of Israel Chief Enters Race to Lead I.M.F". The New York Times.
- "Good News". Greg Mankiw's Blog. 18 May 2011.
- Joshua Mitnick (13 June 2011). "Israel's Stanley Fischer Announces Bid to Head the IMF". Wall Street Journal. Retrieved 30 December 2012.
- Alisa Odenheimer (12 June 2011). "Fischer’s Age, Nationality Are Hurdles in Bid for IMF Post". Bloomberg News. Retrieved 30 December 2012.
- Zeev Klein (19 January 2005). "Bach c'tee approves Fischer". Globes. Retrieved 30 December 2012.
- Adrian Filut (2 May 2010). "Stanley Fischer sworn in for second term". Globes. Retrieved 2 May 2010.
- Viniar, Olga (20 May 2010). "Israel's economy most durable in face of crises". ynetnews.com. Retrieved 23 October 2010.
- Levy, Tal; Bassok, Moti (25 August 2009). "Israel central bank first in developed world to raise interest". Haaretz. Retrieved 23 October 2010.
- "World's Top Central Bankers 2009". Global Finance. 28 September 2010. Retrieved 23 October 2010.
- "Global Finance Magazine names the World’s Top Central Bankers 2010". Global Finance. 9 September 2010. Retrieved 23 October 2010.
- Wroughton, Lesley (13 June 2011). "Lagarde, Carstens shortlisted for IMF race -officials". Reuters.
- "Why Stanley Fischer should head the IMF". Euromoney. 25 May 2011.
- "Stanley Fischer to step down as BOI chief". Ynet News. 29 January 2013. Retrieved 30 January 2013.
- "Stanley Fischer: The Israeli economy". bis.org. 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.
- "Kudrin and Fischer honoured by Euromoney at IMF/World Bank meetings in Washington". 10 October 2010.
- "Stanley Fischer chosen top central banker". The Jerusalem Post. 10 October 2010. Retrieved 23 October 2010.
- "Bilderberg 2011 list of participants". BilderbergMeetings.org. Retrieved August 24, 2011.
- Profile at the Bank of Israel
- Profile at the International Monetary Fund
- Profile at Bloomberg Businessweek
- 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 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
- "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
Anne Osborn Krueger
|World Bank Chief Economist