(JTA) — Former Governor of the Bank of Israel, Stanley Fischer, was recognized for his lifetime accomplishments by the Stanford Institute for Economic Policy.

Fischer was awarded the SIEPR Prize for Contributions to Economic Policy on March 14. The prize comes with a $100,000 award.

Fischer has been nominated to replace Janet Yellen as vice chairman of the U.S. Federal Reserve. Yellen became the head of the Federal Reserve in January.

The award was announced at the annual SIEPR Economic Summit.

Fischer served for eight years as governor of the Bank of Israel, becoming an Israeli citizen when he assumed his position. He previously served as chief economist at the World Bank. Fischer earned a doctorate in economics from the Massachusetts Institute of Technology, where he also worked as a professor.

SIEPR is a non-partisan economic policy research organization at Stanford.

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