The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Bruno, Michael (1932–1996)

  • Joseph Zeira
Reference work entry


Michael Bruno was born in Germany in 1932 and emigrated with his family to Israel in 1933. After military service he studied mathematics and economics at the Hebrew University of Jerusalem and at King’s College, Cambridge. On returning to Israel, he worked at the research department of the Bank of Israel. In 1961 he was brought to Stanford University by Hollis Chenery and Kenneth Arrow, where he received his Ph.D. in 1962. He then returned to Israel and in 1963 joined the faculty of the Department of Economics at the Hebrew University of Jerusalem. Over the years he visited MIT, Harvard, the University of Stockholm, and the LSE. Many times during his academic career Michael Bruno was involved in economic policymaking. In the mid-1970s he participated in a tax reform in Israel and advised the government on economic policy. In 1985 he was chief advisor to the Israeli disinflation programme. From 1986 to 1991 he was Governor of the Bank of Israel, and between 1993 and 1996 he served as a Senior Vice-President and Chief Economist of the World Bank.


Bruno, M. Falk Institute for Economic Research (Israel) Inflation Intertemporal approach to the balance of payments Oil and the macroeconomy Sachs, J. Stabilization policy Stagflation World Bank 

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Joseph Zeira
    • 1
  1. 1.