Emmanuel Farhi - A Great Loss for Economics

Tuesday, July 28, 2020

It is with immense sadness that we learnt over the weekend of the untimely death of CEPR Research Fellow, Emmanuel Farhi.

Emmanuel had been affiliated with CEPR since 2008. 

Passionate about research, he was an intellectual giant whose work was unusually wide-ranging. He worked in many fields and made major contributions in each of them. He worked in particular on global imbalances with Ricardo Caballero and Pierre-Olivier Gourinchas, on neo-Keynesian models with Ivan Werning, on systemic financial stability and financial intermediaries with Jean Tirole. His work influenced the post 2008 reforms of the financial sector and inspired macro-prudential policies. He also did stellar work on the international monetary system, exchange rates and public finance. He recently started an important research agenda on the microfoundation of production networks with David Baqaee. He allied clarity of mind and mathematical intelligence with a constant commitment to help solve socially important problems. His intellectual curiousity was boundless.   

He was the author of 24 CEPR Discussion Papers, and was one of the authors of two influential CEPR reports: CEPR Policy Insight 91, Reconciling risk sharing with market discipline: A constructive approach to euro area reform (the so called 7+7 report) and a CEPR e-Book on Reforming the International Monetary System written for the French Presidency of the G20. He recently agreed to take part in the Commission of Economic Experts of President Emmanuel Macron. 

Following studies at the l’Ecole Normale Supérieure and l’Ecole des Mines, he completed a PhD at MIT before moving to Harvard in 2006 where he was tenured at the age of 31. 

Emmanuel's legacy will live in his stellar contributions to economics and also through his students whom he nurtured and helped with great generosity. He touched the lives of many people and he will be sorely missed.