Dror Goldberg




Department of Management and Economics, The Open University of Israel
Department of Economics, Bar Ilan University, Israel
- Department of Economics, Texas A&M University
- Department of Economics, Stern School of Business, New York University (sabbatical) 



MA, Ph.D (economics), University of Rochester

BA, MA (economics), LL.B (law), Tel Aviv University


Research interests

Monetary economics (theory, history, law)

Political economy



Selected publications

- How Americans Invented Modern Money, 1584-1692. Submitted to the University of Chicago Press according to an advance contract, 2021.

- Monetary Economics [Hebrew textbook], The Open University of Israel, 2020.

- Endogenous Market Formation and Monetary Trade: An Experiment. With Gabriele Camera and Avi Weiss. Journal of the European Economic Association 18(3), June 2020.

- Forced Money: Legal Development of a Criminal Economic RuleComparative Legal History 4(2), December 2016, 162-180

- "Paper Money" in The Atlantic World, edited by D'Marris D. Coffman, Adrian Leonard, and William O'Reilly. Chapter 26, pp. 171-190. Routledge 2014

Property Rights under Administrator-Dictators: The Rise and Fall of America’s First Bank (with Igal Milchtaich), Journal of Economic History 73(4), December 2013, 1098-1124
- The Tax-Foundation Theory of Fiat Money, Economic Theory 50(2), June 2012, 489-497

- Why was America’s First Bank Aborted? Journal of Economic History 71(1), March 2011, 211-222

- The Massachusetts Paper Money of 1690, Journal of Economic History 69(4), December 2009, 1092-1106

Money with Partially Directed Search, Journal of Monetary Economics 54(4), May 2007, 979-993

Famous Myths of “Fiat Money,” Journal of Money, Credit, and Banking 37(5), October 2005, 957-967

Teaching experience

Graduate: Monetary theory
Undergraduate: Economic history; macroeconomics; financial economics; money, credit and banking

Grants since 2010

  • Israel Science Foundation.
  • American Philosophical Society, Franklin Research Grant
  • Israel Science Foundation. With Avi Weiss
  • The Maurice Falk Institute for Economic Research in Israel. With Saggi Katz

Presentations (since 2010)

  • Israeli Economic Association
  • Israeli Association for History and Law
  • Israeli Anthropological Association
  • "Merchants, Bankers, and Entrepreneurs in the Middle East and Beyond", Haifa University
  • Hebrew University, Department of Economics
  • Yale University, Department of Economics
  • Society for the Advancement of Economic Theory Meeting, Cambridge
  • Early Modern Era Workshop of Israel Historical Society, Jerusalem
  • Israel Historical Society Meeting, Ramat Gan
  • American Society for Legal History Meeting, Miami
  • British Group in Early American History Conference, Norwich, UK
  • Society for the Advancement of Economic Theory Meeting, Paris
  • International Society for New Institutional Economics Meeting, Florence, June
  • Israel Historical Society Meeting, Haifa
  • University of California - Irvine, Department of Economics
  • New York University, Department of Economics, Stern School of Business
  • New York University, History Department
  • University of Delaware, Department of Economics
  • Rutgers University, Department of Economics
  • American Society for Legal History, Atlanta
  • Israeli Association for History and Law
  • Business History Conference, St. Louis
  • Tel Aviv University, Faculty of Law
  • Israeli Law and Society Association Meeting, Herzliya
  • Social Science History Association Meeting, Chicago
  • Hebrew University, Department of Agricultural Economics and Management
  • Purdue University, Economics Department
  • New York University, Stern School of Business, Department of Economics
  • Silvaplana Workshop in Political Economy, St. Moritz, Switzerland
  • Israeli Economic Association Meeting, Jerusalem
  • “Questioning ‘Credible Commitment’: Rethinking the Glorious Revolution and the Rise of Financial Capitalism” Conference, University of Cambridge, Cambridge, UK

Courses audited since 2010

  • Unified Growth Theory and Comparative Economic Development. Oded Galor, Bar Ilan University
  • The Development of Financial Institutions and Markets. Richard Sylla, New York University
  • Experimental Economics. Dan Levin, Tel Aviv University
  • Economic Growth in Economic History: Europe, 1700-1850. Joel Mokyr, Tel Aviv University
  • Topics in the Economic History of the 20th century. Joel Mokyr, Tel Aviv University
  • The International Monetary System: Past, Present, and Future. Alex Cukierman, Tel Aviv University
  • Law and History. Assaf Likhovski, Tel Aviv University
  • Constitutional Political Economy. Roger D. Congleton, Bar Ilan University


  • Co-founder and Secretary, Economic History Association of Israel, 2012-