Tribute to Michael Manove
It is with deep sadness that CEMFI mourns the passing of Michael Ellis Manove, who died peacefully on May 18, 2026, at the age of 84. A distinguished economist and a deeply compassionate human being, Michael combined intellectual rigor with rare personal warmth, leaving an enduring mark on everyone fortunate enough to know him. For CEMFI, his loss is felt with particular intensity: as a Visiting Professor and Research Fellow, he became one of the most cherished and loyal members of our community, and his connection to this institution spanned more than two decades.
Michael's ties to CEMFI were both deep and enduring. He visited us across fifteen different academic years, from 1997-98 through 2017-18, teaching Master's courses in Microeconomics and advising three Master's theses on topics ranging from venture capital and electricity markets to the formation of social capital. He collaborated in research with CEMFI's faculty and, over the years, delivered several seminars on financial fragility, banking networks, and labor market dynamics. But beyond his formal contributions, what those who knew him remember most vividly is his extraordinary presence as an intellectual companion. Michael attended virtually every seminar at CEMFI with genuine curiosity and engagement, and he was consistently generous with his time and insights when Master's and PhD students presented their research - asking the questions that mattered, offering the kind of careful, honest feedback that helped young economists grow. Appointed Research Fellow in September 2003 and renewed four times over, Michael's relationship with CEMFI was never merely professional; it was one of true intellectual belonging and lasting friendship.
I will always remember Michael as a friend more than a colleague.
Dante Amengual, CEMFI
Michael was an extraordinary human being. I had great affection for him, and I always greatly enjoyed his company-much more than I was ever able to express. I will miss him very much. My photo with Michael at the CEMFI Christmas Party in 2000, has been on my website ever since.
Manuel Arellano, CEMFI
I always enjoyed Michael's company. He was such a great person; smart, caring, and very funny. His early and unwavering commitment to CEMFI made me realize the value of the institution even more. I have been missing him for years.
Samuel Bentolila, CEMFI
Michael was a good friend, a dear friend. Remembering him brings back countless memories of his generosity, kindness, and warmth. I will miss him.
Susanna Esteban, CEMFI
Dear Michael, life close to you was sometimes a rollercoaster, fun and unexpected. You have left a profound and unforgettable mark on many of us, (once) young academics. Do rest in peace (and give up trying to make economic sense of heaven!). Love, Ana
Ana Fernandes, former CEMFI faculty member
Michael was the closest thing that I had to a mentor at CEMFI. I learned a lot from him about how to conduct research and what it means to be academic. His friendship, generosity, and commitment to help the institution have always been an example for me to follow.
Gerard Llobet, CEMFI
I met Michael in 1996 at Boston University - he welcomed me, walked me to my office next to his, and became colleague, co-author, and one of my closest friends. He was a rare innovator in economics, always offering fresh perspectives, and as a person, extraordinarily generous - anticipating needs before they were voiced. A mentor who taught elegant, reader-first writing; a devoted teacher and father. He remained, till the end, exactly himself: clever, funny, full of life. For me, there is no other Michael.
Jorge Padilla, former CEMFI faculty member
What an amazing person Michael was. And how much he enjoyed coming to Madrid, talking with everyone he met here--at CEMFI, UC3M, and beyond--, mentoring students and junior faculty, advising all of us on everything, personal and professional. I learned a lot from his experience and his wisdom (and also from his computer skills). A great colleague and friend that will be deeply missed.
Rafael Repullo, CEMFI
