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  1. Professor Michael Ben-Gad

portrait of Professor Michael Ben-Gad

Professor Michael Ben-Gad

Professor of Economics

School of Arts and Social Sciences, Department of Economics

Contact Information


Visit Michael

D322, Rhind Building


Postal Address

City University London
Northampton Square



Professor Ben-Gad obtained his BA in Economics at Hebrew University of Jerusalem and his MA and PhD from the University of Chicago. He has worked in the Research Department of the Bank of Israel, and taught at the University of Houston and the University of Haifa.

He joined City as a Reader in 2007. His research focuses on Dynamic Macroeconomics with applications to taxation, public debt, the economic effects of immigration, as well as the emergence of multiple equilibria in models of economic growth.

Professor Ben-Gad has recently appeared on the BBC, CNBC and in the Wall Street Journal discussing the global financial crisis.

He recently completed research funded by an ESRC grant that is funded by HM Treasury and HMRC on fiscal policy and immigration.


- University of Chicago, Department of Economics, Ph.D., 1996
- Univesrity of Chicago, Department of Economics, A.M., 1992
- Hebrew University of Jerusalem, Department of Economics, B.A., 1988


Academic appointments

- City University London, Dept. of Economics, Professor, 2009 - present
- City University London, Dept. of Economics, Head of Department, 2010 - 2013
- City University London, Dept. of Economics, Deputy Head of Department, 2008 -2010
- International School of Economics at Tbilisi State University, Int. Faculty, 2008 - present
- University of Haifa, Dept. of Economics, Lecturer, 2001 - 2007
- University of Houston, Dept. of Economics, Assistant Professor, 1995 - 2001
- Central European University, Budapest, Hungary, Dept. of Economics, Visiting Assistant Professor Summer, 2002

Professional activities

- Panel member, U.S. National Academicy of Sciences panel on the Economic and Fiscal Impacts of Immigration
- Member, Academic Advisory Group, Tax Administration Research Centre (TARC), HM Revenue and Customs/HM Treasury/ESRC sponsored centre and jointly run by the Institute for Fiscal Studies and the University of Exeter

Other experience

- Bank of Israel, Research Department, 1987 - 1989
- Israel Defense Forces: Military Service, 1982 - 1985


Research grants and scholarships

- HMRC/HMT/ESRC Joint Research Programme, 2011 (research grant RES 194-23-00-0020).
- Israel Science Foundation, "Distortionary Taxation, Public Debt, and Immigration" 2007-2008, (research grant no. 49/06).
- Economics and National Security, Samuel Ne'eman Foundation, Technion, 2004. (research grant no. 358, shared with Prof. Yakov Ben-Haim).
- Edelstein Foundation for Population Research, 2002.
- Advanced Research Program, Social Sciences Research Grant, Texas Higher Education Coordinating Board, State of Texas, 1997-99 (research grant no. 003652-836).
- Research Initiation Grant, University of Houston, 1996.
- Bradley Foundation Grant, University of Chicago, 1994-95.
- Henry Morgenthau Jr. Memorial Scholarship in Public Finance, University of Chicago, 1994.
- Century Scholarship, University of Chicago, 1989-93.


Journal Article (20)

  1. Ben-Gad, M. (Apr 2013). International Migration in the Age of Crisis and Globalization. ECONOMICA, 80(318), 379-380. doi: 10.1111/ecca.12019
  2. Ben-Gad, M. (01 Sep 2012). The two sector endogenous growth model: An atlas. Journal of Macroeconomics, 34(3), 706-722. doi: 10.1016/j.jmacro.2012.03.005
  3. Ben-Gad, M. (09 Sep 2009). Economic 'impact' is a poor basis for funding decisions. Research Fortnight.
  4. Ben-Gad, M. (14 Aug 2009). Correspondence on Macroeconomic Theory. Financial Times.
  5. Ben-Gad, M. (2008). Capital-skill complementarity and the immigration surplus. Review of Economic Dynamics, 11(2), 335-365.
  6. Ben-Gad, M. (12 Feb 2007). The Economist is the Commissar's Worst Enemy. Ha'aretz.
  7. Ben-Gad, M. (2006). The Impact of Immigrant Dynasties on Wage Inequality. Research in Labor Economics, 24, 77-134.
  8. Ben-Gad, M. (2004). The Economic Effects of Immigration---a Dynamic Analysis. Journal of Economic Dynamics and Control, 28(9), 1825-1845. doi: 10.1016/j.jedc.2003.04.008
  9. Ben-Gad, M. (01 Jul 2004). The welfare effects of the reagan deficits: A portfolio choice approach. Economic Inquiry, 42(3), 441-454. doi: 10.1093/ei/cbh072
  10. Ben-Gad, M. (2004). Taxes, the Debt Burden, and the Economic Program. Labor, Society and Law, 10, 241-256.
  11. Ben-Gad, M. (2004). Measuring the Welfare Effects of the Reagan Deficits: A Portfolio Choice Approach. Econonic Inquiry, 42, 441-454.
  12. Ben-Gad, M. (2003). Fiscal Policy and Indeterminacy in Models of Endogenous Growth. Journal of Economic Theory, 108(2), 322-344.
  13. Ben-Gad, M. (23 Oct 2003). Correspondence on immigration and taxation. New Republic, 223(17).
  14. Ben-Gad, M. (06 Sep 2002). A Fence for a Time of Peace (pdf). Ha'aretz.
  15. Ben-Gad, M. (23 Oct 2000). Backwater. NEW REPUBLIC, 223(17), 6-6.
  16. Ben-Gad, M. (2000). The Incidence of Deficit Finance with Imperfect Capital Markets. Southern Economic Journal, 66(3), 649-666.
  17. Ben-Gad, M. (10 May 1999). Correspondence on immigration of academics and scientists. New Republic, 220(19).
  18. Ben-Gad, M. (10 May 1999). The global laboratory. NEW REPUBLIC, 220(19), 5-+.
  19. Ben-Gad, M. (1999). Balanced-Growth-Consistent Recursive Utility and Heterogenous Agents. Journal of Economic Dynamics and Control, 23(3), 459-462. doi: 10.1016/S0165-1889(98)00005-0
  20. Ben-Gad, M. (1989). The Fiscal and Monetary Dynamics of Israeli Infation: A Cointegrated Analysis 1970-1987. Centre for Economic Policy Research Discussion Paper Series, 290.

Chapter (2)

  1. Ben-Gad, (01 Oct 2015). Economists put the `Science` in Social Science. Kishor, V. (Ed.), Economics for the Eager ISBN: 192512830X.
  2. Ben-Gad, M. (2009). Analyzing Economic Policy Using High Order Perturbations. Hurlington, C.W. (Ed.), Economic dynamics: Theory, Games and Empirical Studies New York: Nova Science Pub Inc.. ISBN: 1604569115.

    [publisher's website]

Conference (1)

  1. Ben-Gad, M. (2006). The impact of immigrant dynasties on wage inequality. ,

Internet Publication (3)

  1. Ben-Gad, M. (2012). On Deficit Bias and Immigration
  2. Ben-Gad, M. The Optimal Taxation of Asset Income when Government Consumption is Endogenous: Theory, Estimation and Welfare
  3. Ben-Gad, M. Allocating Security Expenditures under Knightian Uncertainty: an Info-Gap Approach

Other (1)

  1. Solimano, A. (Apr 2013). International Migration in the Age of Crisis and Globalization. Cambridge, UK: Cambridge University Press.



Macroeconomics, public finance, the economics of immigration, economic growth.

Other Activities

Keynote Lectures/Speeches (2)

  • Finance and Economics conference: the future of The City, 03 Apr 2013, London.
  • Welcome to the Long-Run, 25 Sep 2012, London. Family Office Leadership Summit

Press/Online Articles (14)

  • Into the Labyrinth, 22 Jun 2015, FT Advisor (Print and online)
  • A capital offence, 25 Sep 2014, FT Advisor (Print and online)
  • What you didn’t hear in the Budget, 16 Apr 2014, FT Advisor (Print and online)
  • Smoothing the way: The Great Moderation, 21 Nov 2013, FT Advisor (Print and online)
  • Greece’s path out of the euro, 19 Feb 2015, The Conversation (Online)
  • The tiny Estonian town that could spell the end of NATO, 25 Mar 2014, The Conversation (Online)
  • Ignore the armchair economists, Osborne’s plan is sensible, 05 Dec 2013, The Conversation (Online)
  • Correspondence on Immigration of Academic and Scientists, 10 May 1999, New Republic, 220(19) (Print)
  • Correspondence on Immigration and Taxation, 23 Oct 2000, New Republic, 223(17) (Print)
  • A Fence for A Time of Peace, 06 Sep 2001, Ha’aretz (Print) In Hebrew
  • The Economist is the Commissar's Worst Enemy, 12 Feb 2007, Ha’aretz (Print) In Hebrew
  • Correspondence on Macroeconomics Theory, 14 Aug 2009, Financial Times (Print)
  • Economic ‘Impact’ is a Poor Basis for Funding Decisions, 09 Sep 2009, Research Fortnight (Print)
  • The Power of Macroeconomics Predictions, 05 Oct 2010, GTNews: Perspective Guiding Global Treasury and Finance (Print)

Television Programmes (4)

  • Talking Business, 04 Apr 2015 on BBC World News. .
  • Rescue Package for Ireland?, 12 Nov 2010 on CNBC. Pressure on the euro fueled by rumors related to Ireland will persist as we head into the weekend and next week. Professor Michael Ben-Gad, head of economics at City University London and Moorad Choudry, head of business treasury at the Royal Bank of Scotland joined CNBC to discuss the outlook.
  • Daily Politics, 07 Sep 2011 on BBC. 50p tax tate: Economist Michael Ben-Gad calls for rethink
  • BBC News, 20 Oct 2010 on BBC. Professor Michael Ben-Gad, Head of the Economics department at City University London comments on the UK Government's Comprehensive Spending Review on BBC News 20 October 2010

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