He was also Ben Bernanke's, Mario Draghi's and Greg Mankiw's Ph.D. thesis advisor.
(meta data) TITLE: Greg Mankiw's Blog: Good News # Greg Mankiw's Blog Random Observations for Students of Economics ## Wednesday, May 18, 2011 ### Good News "Stanley Fischer candidate to replace Strauss-Kahn." I have known Stan for many years. I first took a graduate course from him at MIT in 1980, and he was the main adviser for my PhD dissertation a few years later. He also took the lead in 1987 in trying to recruit me, unsuccessfully, to leave Harvard to join the MIT faculty. Saying no to Stan was one of the hardest things I ever did. Stan is a superb economist and international policymaker: smart, sensible, experienced, personable, and open-minded. He would be an ideal person to head the IMF. << Home ## About Me Name: Greg Mankiw Location: United States I am the Robert M. Beren Professor of Economics at Harvard University. I use this blog to keep in touch with my current and former students. Teachers and students at other schools, as well as others interested in economic issues, are welcome to use this resource. View my complete profile ## Timeless Words of Wisdom I don't care who writes a nation's laws, or crafts its advanced treaties, if I can write its economics textbooks. -- Paul A. Samuelson ## Naked Self Promotion My Harvard Website My Wikipedia Page Old Columns and Talks Google Scholar Citations The Best Way To Learn Economics ## Previous Posts Google Plays the Yield Curve A Poll of Economists Evaluating ARRA Fun Fact of the Day: California Edition Our Negative Bequest to Our Children Libertarian Paradise? Discuss. Macroeconomic Uncertainties I agree with Paul Krugman The Inanity of Rent Control ## Advice for Students Advice for Aspiring Economists Where do economists come from? Choosing a Graduate Program Working Before Grad School Advice for Grad Students Advice for New Junior Faculty Which math courses? Why Aspiring Economists Need Math Love Econ, Bad at Math Summer Reading List JD vs PhD: My Story My Life as a Student PhD or not? Education Beyond the Classroom An engineer seeks career advice A Question about Learning Economics Good Academic, Bad Human Being Are B-school economists different? How to Write Well ## Principles of Economics Rap Version Acrostic Version ## Archives March 2006 April 2006 May 2006 June 2006 July 2006 August 2006 September 2006 October 2006 November 2006 December 2006 January 2007 February 2007 March 2007 April 2007 May 2007 June 2007 July 2007 August 2007 September 2007 October 2007 November 2007 December 2007 January 2008 February 2008 March 2008 April 2008 May 2008 June 2008 July 2008 August 2008 September 2008 October 2008 November 2008 December 2008 January 2009 February 2009 March 2009 April 2009 May 2009 June 2009 July 2009 August 2009 September 2009 October 2009 November 2009 December 2009 January 2010 February 2010 March 2010 April 2010 May 2010 June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 January 2015 February 2015 March 2015 April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 August 2016 September 2016 October 2016 November 2016 December 2016 January 2017 February 2017 March 2017 April 2017 May 2017 June 2017 July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019 July 2019 August 2019
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Stanley Fischer
Academic career.
In the early 1970s, Fischer worked as an associate professor at the University of Chicago. He served as a professor at the MIT Department of Economics from 1977 to 1988. 
 In 1977, Fischer wrote the paper "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule" where he combined the idea of rational expectations argued by New classical economists like Robert Lucas with the idea that price stickiness still led to some degree of market shortcomings that an active monetary policy could help mitigate in times of economic downturns. The paper made Fischer a central figure in New Keynesian economics. Through this critique of new classical macroeconomics Fischer significantly contributed to clarifying the limits of the policy-ineffectiveness proposition. 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.