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1968/69 - 1972




Fall 1972

1964/65 - 1967

Hebrew University

Economics with a minor in Business Administration


Fall 1967

1960/61 - 1963

Hebrew University

Economics and Statistics


Fall 1963

Academic Positions (since the early eighties)

October - November 2015

Swiss National Bank

Visiting Research Fellow

October 2010 - September 2019

Interdisciplinary Center, Herzeliya

Professor of Economics

Spring 2009

University of Munich

Visiting Professor

Spring 2008

University of Bonn

Visiting Professor

Fall 2007

European Central Bank

Visiting Research Fellow

Since Fall 2006

Tel-Aviv University

Professor Emeritus

Academic Year 2005/06

Department of Economics, Princeton University

Visiting Professor

Springs 2001 & 2002

Department of Economics, Stanford University 

Visiting Professor

1984 - Fall 2006

Berglas School of Economics,

Tel Aviv University

Professor of Economics

Spring 1995

University of Chicago-CSES 

Visiting Professor

1994 - 2003

CentER, Tilburg University

Senior Research Fellow

Summers 1990 - 1992

World Bank

Visiting Research Fellow

Academic Year 1989/90

Department of Economics,

Princeton University 

Visiting Professor

Summer 1989

Free University of Berlin

Visiting Professor

1986 - June 88

Department of Economics

Tel Aviv University


Summer 1985

Research Dep., Federal Reserve Bank of St-Louis

Visiting Research Fellow

1983 - 85

GSIA Carnegie-Mellon University 

Visiting Professor

Teaching by Decreasing Order of Personal Preference

The Global Financial Crisis – Causes, Consequences and Policy Responses
Economics and Politics of Central Banking and Strategic Aspects of Monetary Policy,

The International Monetary System
Macroeconomics (with particular emphasis on endogenous policymaking)
Political Economy, Inflation

Other Professional Activities

  1. Member - Monetary Policy Committee of the Bank of Israel, October 2011 - September 2015

  2. President - Israeli Economic Association: December 1995-December 1997.

  3. Member - Commission on Reform of the Law of the Bank of Israel, 1998.

  4. Research Fellow , Center for Economic Policy Research (CEPR).

  5. Associate Editor - European Journal of Political Economy, 1991-February 2000.

  6. Board of Editors of Economic Inquiry; 1985-1996.

  7. Associate Editor - European Economic Review, 1986-1987.

  8. Member of the Organizing Committee for the World Congress of the Econometric Society - Summer 1985.

  9. Consultant - Directorate-General for Economic and Financial Affairs (DG II) of the Commission of the
    European Communities, 1982-83.

  10. Editor, Economic Quarterly (in Hebrew).


Since 2009 ranked within Top 1 percent of authors Worldwide by the RePec (Research papers in Economics) authors service (the ranking is in terms of a weighted impact index of worldwide scientific economic publications).


Listed in: Who is Who in Economics - A Biographical Dictionary of Major Economists 1700 - 1986, MIT Press and Wheatsheaf Books 1986. Who's Who in Economics, 2003, Fourth Edition, Edward Elgar, Cheltenham, UK and Northampton, MA, USA.


Prize: The 1993 Yavor prize for best paper on Development Issues.  (The prize was awarded anually by the Horowitz Institute for Research on Developing Countries at Tel Aviv University). 


Teaching: Student rated best Ph.D. course” in the 1995 Network of countrywide Ph.D. courses, Utrecht, The Netherlands for the course; “Central Bank Stategy, Credibility and Independence”, (out of 19 courses).


Mention for excellence in teaching - Interdisciplinary Center, 2015/2016.

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