Stanley Fischer, the internationally renowned MIT economist, has been named to the Elizabeth and James Killian 1926 Professorship, Provost Mark S. Wrighton has announced.
Professor Fischer, one of the world's leading macroeconomists, served as vice president and chief economist of the World Bank, 1988-90. He was selected for the Killian Chair in recognition of his "outstanding achievements in economics and his distinguished leadership in teaching and public service," Professor Wrighton said.
The professorship was established in 1966 by members of the Class of 1922 to honor James R. Killian and Mrs. Killian for their many years of outstanding service to the Institute and commemorates Dr. Killian's extraordinary work in advancing the human and scientific interests of the nation.
Dr. Killian, who died in 1988, was president of MIT from 1949-59 and was the nation's first presidential science adviser, serving in the Eisenhower administration. He was chairman of the MIT Corporation from 1959 to 1971.
Professor Fischer, a member of the Department of Economics since 1973, has defined the field of macroeconomics. Dean Philip S. Khoury of the School of Humanities and Social Science said, "His research on inflation and its stabilization, indexation, international economics, and economic growth and development has become central to the teaching of macroeconomics and to economic policy.
"As founder and editor of the National Bureau of Economic Research's Macroeconomics Annual, he is exercising decisive influence in setting the trend for what is considered mainline macroeconomics. His Macroeconomics, written with MIT colleague Professor Rudiger Dornbusch, is the leading textbook in the field and is used throughout the world. He has authored and edited six other books, including Indexing, Inflation, and Economic Policy (1986) and more than 100 articles. He is also a highly successful teacher whose students continue to pass on a great tradition of learning throughout the economics profession."
Professor Fischer was born in Zambia in 1943. He received the BSc (1965) and the MSc (1966) from the London School of Economics and the PhD (1969) from MIT. He has held visiting positions at the Hoover Institution and at the Hebrew University where he is a member of the board. He is a fellow of the Econometric Society and the American Academy of Arts and Sciences.
A version of this article appeared in the February 5, 1992 issue of MIT Tech Talk (Volume 36, Number 19).