Rudi Dornbusch
Born	Rüdiger Dornbusch (1942-06-08)June 8, 1942 Krefeld,Rhine Province, Germany
Died	July 25, 2002(2002-07-25) (aged 60) Washington, D.C., U.S.
Education	University of Geneva (BA) Graduate Institute of International Studies (BA) University of Chicago (MA,PhD)
Academic career
Field	International economics
Institutions	MIT (1975–2002) University of Chicago (1974–1975) University of Rochester (1972–1974)
School or tradition	New Keynesian economics
Doctoral advisor	Robert Mundell[1]
Doctoral students	Andrew Abel[2] Pedro Aspe Eliana Cardoso José De Gregorio Jeffrey Frankel Francesco Giavazzi Ilan Goldfajn[3] Paul Krugman[4] Maurice Obstfeld[5] Kenneth Rogoff[6] Christina Romer[7] D. Nathan Sheets
Contributions	Overshooting model Dornbusch's law
Information atIDEAS / RePEc

Rüdiger "Rudi"Dornbusch (June 8, 1942 – July 25, 2002) was a Germaneconomist who worked in the United States for most of his career.

Dornbusch was born inKrefeld in 1942.^[8] After completing his secondary education at theGymnasium am Moltkeplatz, he studiedpolitical science at theUniversity of Geneva, and received his undergraduate degree (licence en sciences politiques) from theGraduate Institute of International Studies in 1966.^[8] He went on to graduate study at theUniversity of Chicago, receiving aM.A. ineconomics in 1966, and aPh.D. in economics in 1971.^[8]

He lectured briefly at theUniversity of Chicago Booth School of Business, before serving as anassistant professor at theUniversity of Rochester for two years; he then returned to Chicago, where he served as a professor of international economics. In 1975, he moved toMIT, where he was appointed anassociate professor in theDepartment of Economics, and was made afull professor in 1984.^[8] He stayed at MIT until his death in 2002.^[9]

Throughout his career his main focus was oninternational economics, especially monetary policy, macroeconomic development, growth and international trade. According to some of his students and associates his talent was to extract the heart of a problem and make it understandable in simple terms. For example, he explained fluctuations in prices and exchange rates with great clarity (notably with hisovershooting model). He succeeded in making a more realistic model thanMundell–Fleming model with regard to a small open economic system, considering exchange rate expectations.^[10] He worked also for theInternational Monetary Fund, contributing to the development of stabilisation policies, especially for Latin American countries. Along withSebastián Edwards he coined the termmacroeconomic populism. For more than 15 years he served as an associate editor of theQuarterly Journal of Economics.

Together withStanley Fischer he also wrote widely used undergraduate textbooks.

He died, aged sixty, fromcancer.^[11]

• Macroeconomics, McGraw-Hill, New York, 1990 (with S. Fischer) 5th ed.
• International Economic Policy: Theory and Evidence, Johns Hopkins University Press, (edited with J. A. Frenkel.)
• Open Economy Macroeconomics, Basic Books, New York, 1980.
• Inflation, Debt and Indexation, MIT Press, 1983. (ed. with M. H. Simonsen.)
• Financial Policies and the World Capital Market, University of Chicago Press, 1983. (ed. with P. Aspe and M. Obstfeld.)
• Economics, McGraw-Hill, New York, 1987, 2nd ed. (with S. Fischer and R. Schmalensee)
• Restoring Europe's Prosperity, (with O. Blanchard and R. Layard) MIT Press, 1986.
• Dollars, Debts and Deficits, MIT Press, 1987.
• Macroeconomics and Finance, (Essays in Honor of Franco Modigliani) MIT Press, 1987, (Ed. with S. Fischer)
• The Political Economy of Argentina, 1946–83, Macmillan, 1988. (ed. with G. diTella)
• Exchange Rates and Inflation MIT Press, 1988.
• Stopping High Inflation (ed. with M. Bruno, G. diTella and S. Fischer), MIT Press, 1988.
• The Open Economy: Tools for Policy Makers in Developing Countries (ed. with Leslie Helmers) Oxford University Press, 1988.
• Public Debt Management: Theory and History (ed. with Mario Draghi) Cambridge University Press, 1990.
• Reform in Eastern Europe (jointly with O. Blanchard et al.) MIT Press, 1991.
• Global Warming: Economic Policy Responses (ed. with J. Poterba) MIT Press, 1991.
• The Macroeconomics of Populism in Latin America (ed. with S. Edwards). MIT Press, 1991.
• East–West Migration (with Layard, Blanchard, and Krugman) MIT Press, 1992.
• Postwar Economic Reconstruction and Lessons for the East Today (ed. with W. Nolling and R. Layard) MIT Press, 1993
• Stabilization, Debt, and Reform: Policy Analysis For Developing Countries, Prentice Hall, 1993.
• Reform, Recovery and Growth (ed. with S. Edwards) University of Chicago Press, 1994.
• Financial Opening: Policy Lessons for Korea, (edited with Y. C. Park), Korea Institute of Finance, International Center For Economics Growth, 1995.
• Keys to Prosperity: Free Markets, Sound Money, and a Bit of Luck, MIT Press, 2000.

• John Simon Guggenheim Fellowship, 1979.
• Fellow of theAmerican Academy of Arts and Sciences.
• Doctor honoris causa,University of Basel, 1988.
• Honorary Professor,Universidad del Pacífico, Lima, Peru, 1989.
• Foreign Member,Finnish Academy of Science and Letters, 1992.
• Harms Prize,Institute for World Economy, Kiel, 1992.^[12]
• Honorary doctorate,Catholic University, Lima Peru, 1998.
• Distinguished CES Fellow, Center for Economic Studies,University of Munich, 1998.
• Concord Prize, Krefeld, 1999
• Named among the "Top 100 Economists in the World",^[13] according toIDEAS/RePEc

• Rudiger Dornbusch Papers, MC-0576. Massachusetts Institute of Technology, Department of Distinctive Collections, Cambridge, Massachusetts.
• Dornbusch page on MIT website
• IDEAS/RePEc
• Dornbusch's opinion commentary archive atProject Syndicate
• Appearances onC-SPAN

• 1942 births
• 2002 deaths
• International economists
• Trade economists
• People from Krefeld
• University of Geneva alumni
• Graduate Institute of International and Development Studies alumni
• University of Chicago alumni
• MIT Sloan School of Management faculty
• 20th-century American writers
• 20th-century German economists
• 21st-century German economists
• Fellows of the Econometric Society
• 20th-century German male writers
• Distinguished fellows of the American Economic Association
• German male non-fiction writers

• Articles with short description
• Short description matches Wikidata
• Use mdy dates from February 2025
• Articles with hCards
• People appearing on C-SPAN