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Prof. Max Gillman, Ph.D.

Director of the ERUNI Open Research Prague
Max Gillman is the Director of the ERUNI Open Research Prague, a research institute of the European Research University. At the ERUNI, he is also a professor at the Department of Economics and Economic Policy and participates in teaching, especially in PhD programmes. Max Gillman is also Professor of Economic History F. A. Hayek at the University of Missouri – St. Louis, USA. His research includes monetary economics, energy markets, macroeconomics, growth, human capital, public finance, asset pricing, and economic development. His monographic publications include The Spectre of Price Inflation (Columbia University Press, 2023, USA); Principles of Macroeconomics: An Evolutionary Approach (Kendall Hunt 2017), Advanced Modern Macroeconomics: Analysis and Application (Pearson 2011), Inflation Theory in Economics (Routledge 2009), and he is the editor of Robert E. Lucas, Jr, Collected Papers on Monetary Theory (Harvard University Press, 2013). His research has been published in Journal of Monetary Economics, Review of Finance, Journal of Money, Credit and Banking, Economic Journal, Journal of Human Capital, Journal of Economic Dynamics and Control, Review of Economic Dynamics, Journal of International Money and Finance, Economica, Economic Inquiry, Economic Modelling, Journal of Economic Methodology, International Tax and Public Finance, Journal of Macroeconomics, B. E. Journal of Macroeconomics, Journal of Economic Surveys, The Economics of Transition, North American Journal of Economics and Finance, Empirical Economics, Economic Affairs, Bulletin of Economic Research, Contemporary Economic Policy, The European Journal of the History of Economic Thought, Manchester School.



Central European University, 2004

Hayek Professor, University of Missouri, 2013


University of Chicago, Department of Economics, 1987

Master’s Degree

University of Chicago, The Division of Social Science, 1981

Bachelor’s Degree

University of Michigan, College of Literature, Science and the Arts, 1979


2023–present, ERUNI, Director of the ERUNI Research Open Prague

2023, Senior Research Fellow, Corvinus Institute of Advanced Studies

2022, Visiting Researcher, Central European University

2020–present, Research Associate, Center for Economic Research and Graduate Education-Economics Institute of the Czech Academy of Science (CERGE-EI)

2017–2023, Academic Board member, PRIGO University, Havirov, Czech Republic, European Association Comenius (EACO) accredited, Vienna

2013–present, University of the Missouri-St. Louis, Professor (Economics)

2004–present, Fellow, Euro Area Business Cycle Network; invited to conferences for Center for Economics Policy Research (CEPR)

2003–present, Research Associate, Institute of Economics, Hungarian Academy of the Sciences, renamed Centre for Economic and Regional Studies (CERS HAS)

Publications (last 5 years, selected)

BENK, S. and GILLMAN, M. Identifying money and inflation expectation shocks to real oil prices. Energy Economics. 2023, 126. ISSN 01409883.

BENK, S. and GILLMAN, M. Identifying money and inflation expectation shocks on real oil prices,” Bank of Finland Research Discussion Papers. 2023. Bank of Finland.

BENK, S., CSABAFI, T., DANG, J., GILLMAN, M. and KEJAK, M. A Human Capital Explanation of Real Business Cycles. Journal of Human Capital. ISSN 1932-8575.

GILLMAN, M., BENK, S., and CSABAFI, T. Supply-side economics with AS-AD in Ramsey dynamic general equilibrium. Economic Analysis and Policy. 2023, 80, 505-531. ISSN 03135926.

DIBOOGLU, S., CEVIK, E. I. and GILLMAN, M. Gold, silver, and the US dollar as harbingers of financial calm and distress. The Quarterly Review of Economics and Finance. 2022, 86, 200-210. ISSN 10629769.


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