From 1988 to 1990 he was chief economist at the World Bank. He was a member of the faculty of the MIT Economics Department from 1973 to 1998. He taught at the University of Chicago while Rudi Dornbusch was a student there, starting a long friendship and collaboration. He was an undergraduate at the London School of Economics and has a PhD from MIT.
Previously he was vice chairman of Citigroup and president of Citigroup International, and from 1994 to 2002 he was first deputy managing director of the International Monetary Fund. STANLEY FISCHER is governor of the Bank of Israel.
His writing includes Open Economy Macroeconomics and, with Stanley Fischer and Richard Schmalensee, Economics. He lectured extensively in Europe and in Latin America, where he took an active interest in problems of stabilization policy, and held visiting appointments in Brazil and Argentina. His special research interests included the behavior of exchange rates, high inflation and hyperinflation, and the problems and opportunities that high capital mobility pose for developing economies. His research was primarily in international economics, with a major macroeconomic component. He taught at Chicago, at Rochester, and from 1975 to 2002 at MIT. He did his undergraduate work in Switzerland and held a PhD from the University of Chicago. RUDI DORNBUSCH (19422002) was Ford Professor of Economics and International Management at MIT.
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