Stan Fischer is one of the great macroeconomist of the last 50 years, and as shown by the figure above he influenced many of the other leading economists of this time. He was one of the key pillars of MIT macroeconomics and was clearly one of the strong influencers of monetary policy choices around the globe. You cannot talk about macroeconomics or international macrofinance without looking at some of his papers. I cannot say that I always agree with his research work, but that does not change his substantial impact on macro thinking.
He will be missed, yet we must ask what would have happened to macroeconomic thinking if Fischer had not existed. Would we be better or worse off with our thinking? Would someone else have filled the void? More so than any one piece of research, Fischer was a teacher, whether at MIT, the IMF, the World Bank, or the Fed, who set the agenda for many other researchers. In this case, he could not be replicated.
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