The American Economic Association and the economics profession were saddened to learn of the passing of Stanley Fischer at age 81.  Fischer taught for many years at the University of Chicago and the Massachusetts Institute of Technology. After his academic career, he served as Chief Economist of the World Bank, First Deputy Managing Director of the International Monetary Fund, Governor of the Bank of Israel, and Vice Chair of the Federal Reserve. Fischer was a member of the AEA executive committee from 1989 to 1991, and served as vice president of the AEA in 1995.

In 2013, Fischer received the honor of AEA Distinguished Fellow for work that was central to the development of modern macroeconomics.  The dynamic stochastic general equilibrium models currently in use at central banks originated from his thinking. To learn more about Fischer and his contributions to the economics profession, see his obituary in The New York Times.