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Professor Michael Ben-Gad

Professor of Economics

School of Arts and Social Sciences Department of Economics

Contact details

Address

Professor Michael Ben-Gad D311, Rhind Building
City, University of London
Northampton Square
London EC1V 0HB
United Kingdom

About

Overview

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 and served as Head of Department between 2010 to 2013. 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.

Between 2014 to 2016, Professor Ben-Gad served on the US National Academy of Sciences panel on the The Economic and Fiscal Consequences of Immigration.

In 2011 he completed research funded by an ESRC grant that is funded by HM Treasury and HMRC on fiscal policy and immigration.

Professor Ben-Gad has recently appeared on the BBC, CNBC and in the Wall Street Journal discussing the global financial crisis. In 2017 he was appointed a Fellow of the Royal Society of Arts (FRSA). Member, Grant Assessment Panel C of the Economic and Social Research Council (ESRC) from 2021 and member, editorial board, Economic Affairs from 2022.

Qualifications

  1. PhD, University of Chicago, United States, 1996
  2. AM, University of Chicago, United States, 1992
  3. BA, Hebrew University of Jerusalem, Israel, 1988

Employment

  1. Head of Department, City, University of London, 2010 – 2013
  2. Professor, City, University of London, 2009 – present
  3. Deputy Head of Department, City, University of London, 2008 – 2010
  4. Int. Faculty, International School of Economics at Tbilisi State University, 2008 – present
  5. Visiting Assistant Professor, Central European University, Budapest, 2002
  6. Lecturer, University of Haifa, 2001 – 2007
  7. Assistant Professor, University of Houston, 1995 – 2001
  8. Economist, Bank of Israel, 1987 – 1989
  9. Military Service, Israel Defense Forces, 1982 – 1985

Memberships of professional organisations

  1. Panel member, U.S. National Academicy of Sciences panel on the Economic and Fiscal Impacts of Immigration
  2. Member, Academic Advisory Group, Tax Administration Research Centre (TARC), HM Revenue and Customs/HM Treasury/ESRC

Languages

Hebrew (can read, write, speak, understand spoken and peer review).

Teaching

Interests

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

Research

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.

Publications

Publications by category

Book

  1. (2017). The Economic and Fiscal Consequences of Immigration. National Academies Press. ISBN 978-0-309-44445-3.

Chapters (3)

  1. National Academies of Sciences, Engineering, and Medicine, and Ben-Gad, M. (2017). Employment and Wage Impacts of Immigration: Theory. In Blau, F.D. and Mackie, C. (Eds.), The Economic and Fiscal Consequences of Immigration (pp. 165–196). Washington, D. C.: The National Academies Press. ISBN 978-0-309-44445-3.
  2. Ben-Gad, (2015). Economists put the `Science` in Social Science. In Kishor, V. (Ed.), Economics for the Eager ISBN 978-1-925128-30-7.
  3. Ben-Gad, M. (2009). Analyzing Economic Policy Using High Order Perturbations. In Hurlington, C.W. (Ed.), Economic dynamics: Theory, Games and Empirical Studies New York: Nova Science Pub Inc.. ISBN 978-1-60456-911-7.

Conference paper/proceedings

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

Journal articles (15)

  1. Ben-Gad, M., Ben-Haim, Y. and Peled, D. (2020). Allocating Security Expenditures under Knightian Uncertainty: An Info-Gap Approach. Defence and Peace Economics, 31(7), pp. 830–850. doi:10.1080/10242694.2019.1625518.
  2. Ben-Gad, M. (2018). On the Political Economy of Deficit Bias and Immigration. The Economic Journal, 128(614), pp. 2191–2221. doi:10.1111/ecoj.12502.
  3. Ben-Gad, M. (2017). The Optimal Taxation of Asset Income when Government Consumption is Endogenous: Theory, Estimation and Welfare. Economic Inquiry, 55(4), pp. 1689–1711. doi:10.1111/ecin.12463.
  4. Ben-Gad, M. (2013). International Migration in the Age of Crisis and Globalization. ECONOMICA, 80(318), pp. 379–380. doi:10.1111/ecca.12019.
  5. Ben-Gad, M. (2012). The two sector endogenous growth model: An atlas. Journal of Macroeconomics, 34(3), pp. 706–722. doi:10.1016/j.jmacro.2012.03.005.
  6. Ben-Gad, M. (2009). Economic 'impact' is a poor basis for funding decisions. Research Fortnight.
  7. Ben-Gad, M. (2008). Capital-skill complementarity and the immigration surplus. Review of Economic Dynamics, 11(2), pp. 335–365. doi:10.1016/j.red.2007.08.001.
  8. Ben-Gad, M. (2006). The Impact of Immigrant Dynasties on Wage Inequality. Research in Labor Economics, 24, pp. 77–134. doi:10.1016/S0147-9121(05)24003-7.
  9. Ben-Gad, M. (2004). The welfare effects of the Reagan deficits: A portfolio choice approach. Economic Inquiry, 42(3), pp. 441–454. doi:10.1093/ei/cbh072.
  10. Ben-Gad, M. (2004). The Economic Effects of Immigration---a Dynamic Analysis. Journal of Economic Dynamics and Control, 28(9), pp. 1825–1845. doi:10.1016/j.jedc.2003.04.008.
  11. Ben-Gad, M. (2004). Taxes, the Debt Burden, and the Economic Program. Labor, Society and Law, 10, pp. 241–256.
  12. Ben-Gad, M. (2003). Fiscal Policy and Indeterminacy in Models of Endogenous Growth. Journal of Economic Theory, 108(2), pp. 322–344. doi:10.1016/S0022-0531(03)00027-9.
  13. Ben-Gad, M. (2000). The Incidence of Deficit Finance with Imperfect Capital Markets. Southern Economic Journal, 66(3), pp. 649–666.
  14. Ben-Gad, M. (1999). Balanced-Growth-Consistent Recursive Utility and Heterogenous Agents. Journal of Economic Dynamics and Control, 23(3), pp. 459–462. doi:10.1016/S0165-1889(98)00005-0.
  15. Beenstock, M. and 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.

Media (20)

  1. Ben-Gad, M. (2016). Classifying economists.
  2. Ben-Gad, M. (2016). Correspondence on classifying Economists.
  3. Ben-Gad, M. (2016). Could an end to corporate tax help Britain’s Brexit-burdened finances?
  4. Ben-Gad, M. (2016). Greece economy rallies while Germany stutters but restraint still required.
  5. Ben-Gad, M. (2015). Into the labyrinth.
  6. Ben-Gad, M. (2015). Manifesto Check: the bizarre economic creed of the Greens.
  7. Ben-Gad, M. (2015). Greece’s path out of the euro.
  8. Ben-Gad, M. (2014). Autumn Statement: the experts respond.
  9. Ben-Gad, M. (2014). A capital offence.
  10. Ben-Gad, M. (2014). What you didn't hear in the budget.
  11. Ben-Gad, M. (2014). The tiny Estonian town that could spell the end of NATO.
  12. Ben-Gad, M. (2013). Ignore the armchair economists, Osborne’s plan is sensible.
  13. Ben-Gad, M. (2013). Smoothing the Way.
  14. Ben-Gad, M. (2010). The Power of Macroeconomic Predictions.
  15. Ben-Gad, M. (2009). Economic 'impact' is a poor basis for funding decisions.
  16. Ben-Gad, M. (2009). Correspondence on Macroeconomic Theory.
  17. Ben-Gad, M. (2007). The Economist is the Commissar's Worst Enemy.
  18. Ben-Gad, M. (2001). A Fence for a Time of Peace.
  19. Ben-Gad, M. (2000). Correspondence on immigration and taxation.
  20. Ben-Gad, M. (1999). Correspondence on immigration of academics and scientists.

Scholarly editions (5)

  1. Ben-Gad, M. (2013). Public Deficit Bias and Immigration.
  2. Ben-Gad, M. (2008). The Two Sector Endogenous Growth Model and the Intertemporal Elasticity of Substitution: An Atlas.
  3. Ben-Gad, M. An Analysis of Immigration in a Dynamic Macroeconomic Model.
  4. Beenstock, M. and Ben-Gad, M. The Fiscal and Monetary Dynamics of Israeli Inflation: A Cointegrated Analysis 1970-1987.
  5. Ben-Gad, M. Capital-Skill Complementarity and the Immigration Surplus.

Working papers (8)

  1. Ben-Gad, M., Pearlman, J. and Sabuga, I. (2021). An Analysis of Monetary and Macroprudential Policies in a DSGE Model with Reserve Requirements and Mortgage Lending. London, UK: City, University of London.
  2. Aligishiev, Z., Ben-Gad, M. and Pearlman, J. (2020). Evaluating Historical Episodes using Shock Decompositions in the DSGE Model. London, UK: Department of Economics.
  3. Ben-Gad, M., Ben Haim, Y. and Peled, D. (2019). Allocating Security Expenditures under Knightian Uncertainty: an Info-Gap Approach. London: City, University of London.
  4. Aligishiev, Z., Ben-Gad, M., Mountford, A. and Pearlman, J. (2019). Turning It Up To Eleven: Re-Evaluating the Role of Financial Frictions in the 2007–2008 Economic Crisis. London, UK: City, University of London.
  5. Ben-Gad, M. (2015). The Optimal Taxation of Asset Income when Government Consumption is Endogenous: Theory, Estimation and Welfare. London, UK: City University London.
  6. Ben-Gad, M. (2012). On Deficit Bias and Immigration. City, University of London.
  7. Ben-Gad, M. (2009). The two sector endogenous growth model: an atlas. London, UK: City, University of London.
  8. Ben-Gad, M. (2008). Analyzing Economic Policy Using High Order Perturbations. London, UK: City, University of London.

Professional activities

Keynote lectures/speeches (2)

  1. Finance and Economics conference: the future of The City. London (2013).
  2. Welcome to the Long-Run. London (2012). Family Office Leadership Summit

Online articles (14)

  1. The Power of Macroeconomics Predictions. (2010). GTNews: Perspective Guiding Global Treasury and Finance
  2. Economic ‘Impact’ is a Poor Basis for Funding Decisions. (2009). Research Fortnight
  3. Correspondence on Macroeconomics Theory. (2009). Financial Times
  4. The Economist is the Commissar's Worst Enemy. (2007). Ha’aretz In Hebrew
  5. A Fence for A Time of Peace. (2001). Ha’aretz In Hebrew
  6. Correspondence on Immigration and Taxation. (2000). New Republic, 223(17)
  7. Correspondence on Immigration of Academic and Scientists. (1999). New Republic, 220(19)
  8. Ignore the armchair economists, Osborne’s plan is sensible. (2013). The Conversation
  9. The tiny Estonian town that could spell the end of NATO. (2014). The Conversation
  10. Greece’s path out of the euro. (2015). The Conversation
  11. Smoothing the way: The Great Moderation. (2013). FT Advisor
  12. What you didn’t hear in the Budget. (2014). FT Advisor
  13. A capital offence. (2014). FT Advisor
  14. Into the Labyrinth. (2015). FT Advisor

Television programmes (4)

  1. Talking Business. BBC World News
  2. Daily Politics. BBC 50p tax tate: Economist Michael Ben-Gad calls for rethink

    http://www.bbc.co.uk/news/uk-politics-14822915
  3. Rescue Package for Ireland? 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.

    http://video.cnbc.com/gallery/?video=1641922460
  4. BBC News. 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

    http://www.youtube.com/watch?v=IbmZpOtt0Co