Bank of Israel - Press Releases - The appointment of new members from among the public to serve on the Monetary Committee
Central bank: boi | Type: statement | Date: 2017-10-02

In
October 2014, Prof. Rafi Melnick completed his term as a member from among the
public, and in October 2015, Prof. Alex Cukierman completed his term.
A
search committee headed by Adv. Yehoshua Lemberger decided, after consulting with
the Governor, to recommend to the government that Prof. Reuben Gronau be
reappointed, and that Prof. Zvi Hercowitz and Prof. Moshe Hazan be appointed as
members from among the public on the Monetary Committee. These recommendations
come after the Senior Appointments Advisory Committee led by retired Judge Bilha
Gilor found the candidates to be fit for service. The Government accepted the
committee’s recommendations today, and the appointments are now in effect. The
appointments will be valid for a term of four years.
As
such, in addition to Bank of Israel Governor Dr. Karnit Flug (Committee
Chairman), Deputy Governor Dr. Nadine Baudot-Trajtenberg, and Market Operations
Department Director Mr. Andrew Abir, the following members will serve from
among the public:
Prof.
Reuben Gronau– Professor
Emeritus in the Economics Department at the Hebrew University of Jerusalem,
Chairman of the Falk Institute for Economic Research, and Chairman of the
Public Council for Statistics. Prof. Gronau is among the senior economic
researchers in Israel. He has won the Landau Prize for Israeli Economics, and
the Mincer Price for lifetime contribution to labor economics. Prof. Gronau has
served on many public committees, and has been instrumental in designing the
pricing systems for public monopolies.
Prof.
Zvi Hercowitz– A professor
at the Tiomkin School of Economics at the Herzliya Interdisciplinary Center,
and Professor Emeritus at the Eitan Berglas School of Economics, Tel Aviv
University. Prof. Hercowitz has served as a consultant to the Bank of Israel
Research Department, was a guest researcher at the Federal Reserve Bank in the
United States, and has published many articles in the fields of macroeconomics,
monetary policy, and the financial system.
Prof.
Moshe Hazan– An associate professor
at Tel Aviv University’s Eitan Berglas School of Economics, and research fellow
at the Centre for Economic Policy Research (CEPR) in London. Prof. Hazan serves
as Associate Editor of theMacroeconomic Dynamicsperiodical, and as
Chairman of the Pinhas Sapir Economic Policy Forum. His studies focus on the interaction
between demographic developments and gender differences and economic growth and
inequality.
Bank
of Israel Governor Dr. Karnit Flug welcomed the government’s decision to
appoint the members from among the public to serve on the Monetary Committee,
and thanked the members of the search committee for their in-depth professional
work over the past few months.​