Joseph Zeira
Joseph Zeira (born 1950) is an Israeli economist. His main work is in macroeconomics, in economic growth and in the economy of Israel. He is the Aaron and Michael Chilewich Professor of Economics at the Hebrew University of Jerusalem. Biography. Joseph Zeira received a B.Sc. in Mathematics and Physics in 1971 and after military service received an M.Sc. in Mathematics in 1976. He then moved to Economics and submitted his Ph.D. in 1983. All his degrees are from the Hebrew University of Jerusalem. After a post-doc at Harvard University, he returned to teach at the Hebrew University  of Jerusalem. Since 2009, he has an additional position at LUISS in Rome, Italy. Over the years, Joseph Zeira visited for extended periods Northwestern University, Brown University, Harvard University, Brandeis University, the University of Crete, and Columbia University. Research contributions. The most well-known research of Joseph Zeira is his paper with Oded Galor, the Galor–Zeira model. It shows that if capital markets are imperfect, poor families cannot supply education to their children and that reduces human capital and output in the economy. The paper also provides an economic justification to public education. Another line of research, initiated  by Joseph Zeira, examines how missing aggregate information on potential growth and the gradual learning about it can lead to fluctuations, both in output and in stock prices. A third important contribution is the modelling of technologies, which are embedded in machines that replace workers. He has shown that such technologies can explain much of modern economic growth and much of the gaps between rich and poor countries as well. His research on the Israeli economy offers new insights on this economy that differ from the standard wisdom. One example is that the Israeli–Palestinian conflict costs Israel much more  than the standard measure of defense costs, due to productivity losses, and potential recessions. Public activities. In 1995–1996 Joseph Zeira served as an economic advisor to the Ministry of Finance of Israel. Joseph Zeira is a member of the Aix Group. It consists of Israelis, Palestinians and Internationals, who study the economics of the potential peace agreement and of the conflict in general. He participated in the research on the agreement on Jerusalem, on the territorial link, on development in the Palestinian economy and on the impact of the conflict on the Israeli economy. In 2011, Joseph Zeira led a  team of economists who supported and advised the Israeli social protests. In 2014, he served in a governmental committee on poverty in Israel. The Israeli Economy: A Story of Success and Costs. Princeton University Press, 2021.