Stanley Fischer

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Stanley Fischer
Born (1943-10-15) 15 October 1943 (age 74)
Northern Rhodesia (Now Zambia)
Nationality  Israel
Institution Bank of Israel 2005–
Citigroup 2002–05
IMF 1994–01
World Bank 1988–90
MIT 1973-88, 1990–94
Field Financial economics
School or
New Keynesian economics
Alma mater MIT (Ph.D.)
LSE (B.Sc., M.Sc.)
Influences Franklin M. Fisher

Stanley "Stan" Fischer (Hebrew: סטנלי פישר‎) is an economist and the current Governor of the Bank of Israel.

Early life and education

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.


He was a professor at MIT 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 Ph.D. thesis advisor.

U.S. positions

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, from September 1994 until the end of August 2001. By the end of 2001 Dr. 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. Dr. Fischer worked at Citigroup from February, 2002 to April, 2005.

Bank of Israel governor

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.[1]

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.[2]

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.[3]

In 2009 and 2010, Fischer received an "A" rating on the Central Banker Report Card published by Global Finance magazine.[4][5]

In October of 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.[6]

He is also the recipient of an honorary doctorate from Hebrew University in 2006.[7]


  1. ^ Adrian Filut (2 May 2010). "Stanley Fischer sworn in for second term". Globes. Retrieved 2 May 2010. 
  2. ^ Viniar, Olga (20 May 2010). "Israel's economy most durable in face of crises". Retrieved 23 October 2010. 
  3. ^ Levy, Tal; Bassok, Moti (25 August 2009). "Israel central bank first in developed world to raise interest". Haaretz. Retrieved 23 October 2010. 
  4. ^ "World's Top Central Bankers 2009". Global Finance. 28 September 2010. Retrieved 23 October 2010. 
  5. ^ "Global Finance Magazine names the World's Top Central Bankers 2010". Global Finance. 9 September 2010. Retrieved 23 October 2010. 
  6. ^ "Stanley Fischer chosen top central banker". The Jerusalem Post. 10 October 2010. Retrieved 23 October 2010. 
  7. ^ "Stanley Fischer: The Israeli economy" (PDF). Retrieved 23 October 2010. 

External links


Business positions
Preceded by
Anne Krueger
World Bank Chief Economist
Succeeded by
Lawrence Summers