Professor Erez Yerushalmi
See also BCU PURE profile of Dr Erez Yerushalmi
Dr. Erez Yerushalmi is a Professor of Economics at Birmingham City University (BCU). He currently serves as College Academic Lead for Research, Innovation, and Enterprise (CALRIE) and was previously the Director of the Centre for Accountancy, Finance, and Economics (CAFE) until January 2024.
Erez joined BCU in 2017 after working as a Research Fellow at the University of Warwick’s Institute for Employment Research (IER) since 2012, alongside lecturing at Warwick Business School. He earned his PhD in Economics from Warwick in 2013.
With a strong track record in research funding, Erez has served as Principal Investigator (PI) and Co-Investigator (Co-I) on multiple projects, securing over £7.2 million from major organizations including GSK, GIZ, EU CEDEFOP, UNESCO, Wellcome Trust, CCA, and WoAH. More than £300K of this directly contributed to his salary. Since 2018, he has worked on five projects totalling £698K and secured funding for two internal BCU PhDs.
Erez specializes in Applied Public Policy Analysis, with research spanning Health, Environment, Innovation, and Labour Economics. A leading expert in Computable General Equilibrium (CGE) modelling, he also employs Econometrics and other quantitative methodologies. With over 20 years of experience in economic research and consulting—including 10 years in project management—his work has influenced policy and practice globally.
Before his PhD, Erez spent five years in the private sector as an economist in international consulting firms, focusing on macroeconomic forecasting, cost-benefit analysis, infrastructure assessment, transportation, and energy modelling.
Erez welcomes PhD students interested in similar research areas. His office is in Curzon Building, Room C213.
Areas of Expertise
Applied Policy Analysis using Computable General Equilibrium (CGE) modelling. A focus on:
- Health Economics
- Environmental Economics and Management
- Development Economics
- Labour Economics
- Tax policy
Qualifications
- 2013 PhD (Economics) University of Warwick, UK
- 2002 MSc (Applied Economics and Finance) Copenhagen Business School, Denmark.
- 1999 BA (Economics and Political science) Hebrew University, Jerusalem.
Teaching
- QME6040 Advanced Economic Theory
- QME6041 Industrial Organisation
- QME5005 Macroeconomics
Research
External Research Funding
- 08/2024- 9/2025: NIHR's economic return at the regional and national level (BCU PI, Lead RAND, NIHR)
- 10/2023-12/2024: Economic Impact of Antimicrobial Resistance in Humans and Food-Producing Animals, Co-I (BCU PI, Lead WOAH).
- 7/2019-12/2019: The cost of Physical Inactivity, A CGE Analysis Co-I (BCU PI, Lead RAND, Vitality).
- 7/2018 - 5/2019: The Cost of Antimicrobial Resistance in Canada, A Dynamic CGE Analysis (PI BCU, Lead CCA)
- 02/2018 – 10/2018: KEEN BMF Project (Co-I)
- 11/2016 - 10/2018: Longitudinal study of Further Education Students, collecting and analyzing primary data (Funder: Edge Foundation)
- 05/2015 - 4/2017: Labour Market Information (LMI) for All, econometric forecasting based on LFS/ASHE data.
- 10/2015 - 12/2016: Private or Public Healthcare in Israel, using general equilibrium modelling, Co-I (Israel's Health Research Council).
- 11/2014 - 12/2015: Georgia Knowledge Transfer, using general equilibrium modelling, PI (GIZ)
- 09/2014 - 01/2015: UNESCO NET-MED Youth, labor market assessments (Co-I, Cedefop)
- 02/2014 - 08/2014: Georgia further research, using general equilibrium modelling, PI (GIZ)
- 08/2014 - 01/2015: Estimating the economic costs of antimicrobial resistance using general equilibrium, Co-I (Welcome Trust)
- 01/2013 - 09/2013: Policy analysis in Georgia, using general equilibrium modelling, PI (GIZ)
- 01/2013 - 12/2017: Cedefop Mid-Term Supply and Demand Forecast in Europe (see eg.)
- 11/2012 - 12/2012: Bedfordshire – skills forecasting in the local UK council.
- 01/2010 - 10/2012: Economic cost of Malaria using general equilibrium modelling, Co-I (GSK)
Publications
PEER-REVIEWED PUBLICATIONS
Yerushalmi, E., Ziv, S., 2025. Internalizing Social Value in Healthcare: Optimal Policy in Mixed Public-Private Systems. Journal of Policy Modeling. (CABS-2*, ABDC-A, SJR-Q1).
Hearne, D., Yerushalmi, E., 2024. The Amenity Value of Bicycle Infrastructure: A Hedonic Application to Greater Manchester. Environmental and Resource Economics (CABS-3*, ABDC-A, SJR: Q1).
Martin-Lawson, D., Paladini, S., Saha, K., Yerushalmi, E., 2024.The Cost of (Un)regulation: Shrinking Earth’s Orbits and the Need for Sustainable Space Governance. Journal of Environmental Management (CABS21-3*, ABDC-A, SJR-Q1)
Hafner, M., Yerushalmi, E., Andersson, F., and Burtea., T., 2022. Partially wrong? The importance of general equilibrium in health economic evaluations: an application to nocturia. Health Economics (CABS-3*, SJR-Q1)
Hafner, M., Yerushalmi, E., Martin Stepanek, Phillips, W.D., Pollard, J., Deshpande, A., Whitmore, M., Millard, F., Subel, S., Van Stolk, C., 2020. Estimating the global economic benefits of physically active populations over 30 years (2020 to 2050). British Journal of Sports Medicine. (4* Medical Journal, SJR-Q1)
Hafner, M., Andersson, F.L., Burtea, T., Stolk, C. van, Whitmore, M., Yerushalmi, E., Troxel, W.M., 2020. Assessing the burden of nocturia in the workplace: the associations between nocturnal voiding, subjective well-being, work engagement and productivity. Journal of Medical Economics. (ABDC-C, SJR-Q1)
Yerushalmi, E., Hunt, P., Hoorens, S., Sauboin, C., and Smith, R., 2019. Exploring the Use of a General Equilibrium Method to Assess the Value of a Malaria Vaccine: An Application to Ghana. Medical Decision Making Policy & Practice (MDM P&P) 4 (2) (SJR-Q1).
Lockwood,B., and Yerushalmi, E., 2019. How Should Payment Services Be Taxed?. Social Choice and Welfare. (CABS-3*, ABDC-A, SJR-Q1)
Yerushalmi, E., 2018. Using Water Allocation in Israel as a Proxy for Imputing the Value of Agricultural Amenities. Ecological Economics 149, 12–20. (CABS-3*, ABDC-A, SJR-Q1)
Subramaniam, T., Loganathan, N., Yerushalmi, E., Devadason, E.S., Majid, M., 2018. Determinants of Infant Mortality in Older ASEAN Economies. Social Indicators Research 136, 397–415. (ABDC-A, SJR-Q1)
Book Chapter
Paladini, S., Yerushalmi, E., Castellucci, I., 2021. Public Governance of the Blockchain Revolution and Its Implications for Social Finance: A Comparative Analysis, in: Walker, T., McGaughey, J., Goubran, S., Wagdy, N. (Eds.), Innovations in Social Finance : Transitioning Beyond Economic Value. Springer International Publishing, Cham, pp. 293–318. https://doi.org/10.1007/978-3-030-72535-8_14
WORK IN PROGRESS (Under-review or R&R)
Yerushalmi, E., Paladini, S., Blockchain in Financial Intermediation and Beyond: Institutional Barriers, Welfare Gains, and a Pathway to Diffusion.
Martin-Lawson, Paladini, S., Saha K., Yerushalmi, E. Charting the course of Space Tourism toward a Sustainable Future. A cross-cluster thematic analysis.
Yerushalmi, E., Saha, K. How Circular Economy Technologies Can Backfire on The Environment: Quantifying the Rebound Effect of The Textiles and Clothing Sector.
MEDIA CONTRIBUTION
Yerushalmi, E., Hearne, D., 2014. Why being close to a cycle network can boost house prices. The Conversation.
Yerushalmi, E., 2020. The economic benefits of Telemedicine. TigerLAB BITES. (A video interview).
WORKING PAPERS
Rana, H., O’Connor F., Jae K., Yerushalmi, E., 2024. Market Efficiency Perspective of Precious Metals: Evidence from Developed and Emerging Economics. CAFE Working Paper 28, Birmingham City University.
Yerushalmi, E., Hafner, M., Fays, C., Dufresne, E., Van Stolk, C., 2021. Quantifying the economic cost of vaccine nationalism using computable general equilibrium model. Grassroots 12. Newsletter of the Research Committee on Social Movements, Collective Action and Social Change.
Hafner, M., Yerushalmi, E., Andersson, F., Burtea, T., 2020. Quantifying the macroeconomic cost of night-time bathroom visits: an application to the UK. CAFE Working Paper 5, Birmingham City University.
Yerushalmi, E., Ziv, S., 2020. Imputing the Social Value of Public Health Care: a New Method with Application to Israel. CAFE Working Paper 4, Birmingham City University.
Yerushalmi, E., Javashvili, D., and Gorgodze O., 2014. To Do Better, Georgia Requires a Bigger Banking Sector: A General Equilibrium Approach. GIZ Working Paper.
Meagher, G.A., A.Wilson, R., Yerushalmi, E., 2014. Emerging Structural Pressures in European Labour Markets. Centre of Policy Studies/IMPACT Centre Working Paper No. g-249. Victoria University, Centre of Policy Studies/IMPACT Centre.
Yerushalmi, E., 2012. Measuring the Administrative Water Allocation Mechanism and Agricultural Amenities.The Warwick Economics Research Paper Series (TWERPS). University of Warwick, Department of Economics.
COMPLETED REPORTS
Adamie, B. A., Akwar, H. T., Arroyo, M., Bayko, H., Hafner, M., Harrison, S., Jeannin, M., King, D., Eweon, S., Kyeong, N. D., Olumogba, F., Rigby, I., Song, S. J., Yerushalmi, E., Yugueros-Marcos, J. & Zakaria, S., 2024. Forecasting the Fallout from AMR: Economic Impacts of Antimicrobial Resistance in Food-Producing Animals. Project Report, World Organisation for Animal Health (WoAH).
Romanelli, R., Cabling, M., Marciniak-Nuqui, Z., Marjanovic, S., Morris, S., Dufresene, E., Yerushalmi, E., Hafner, M., 2023. The societal and indirect economic burden of seasonal influenza in the United Kingdom. Project Report. RAND Corporation (RAND report RRA2165-1).
Hafner M., Romanelli J. R., Yerushalmi, E., Troxel M. W., 2023. The societal and economic burden of insomnia in adults. Project Report. RAND Corporation (RAND report RRA2166-1).
Ayres-Bennet W., Hafner, M., Dufresne E., Yerushalmi, E., 2022. The Economic Value to the UK of Speaking Other Languages. Project Report. RAND Corporation (RAND report RRA1814-1).
Hafner, M., Yerushalmi, E., Dufresne, E., and Gkousis, E., 2021. The Potential Socio-Economic Impact of Telemedicine in Canada. Project Report. RAND Corporation (RAND report RR-A1274-1). (Media: BCU video)
Hafner, M., Yerushalmi, E., Fays, C., Dufresne, E., Van Stolk, C., 2020. COVID-19 and the cost of vaccine nationalism. (RAND Report No. RRA769-1).
Ries, C.P., Hafner, M., Fays, C., Yerushalmi, E., 2020. The End of the Beginning: Assessing the potential economic implications of prolonged UK–EU trade policy uncertainty. Research Report No. RR-4265-RC. RAND Corporation.
Council of Canadian Academies, CCA, 2019. When Antibiotics Fail: The Expert Panel on the Potential Socio-Economic Impacts of Antimicrobial Resistance in Canada. Project Report. Council of Canadian Academies, Ottawa, Canada.
Hafner, M., Yerushalmi, E., Phillips, W.D., Pollard, J., Deshpande, A., Whitmore, M., Millard, F., Subel, S., Van Stolk, C., 2019. The economic benefits of a more physically active population: An international analysis.(Research Report No. RR-4291-TVG). RAND Corporation.
Hafner, M., Pollard, J., Troxel, W.M., Yerushalmi, E., Fays, C., Whitmore, M., Van Stolk, C., 2019. How frequent night-time bathroom visits can negatively impact sleep, well-being and productivity. Report. RAND Corporation.
Yerushalmi, E., Impact Assessment of the Planned DCFTA Between the EU and Georgia: A CGE Analysis, GIZ Working Paper. 2015. [Confidential report for the Government of Georgia]
Wilson, R. A, Rachel B., Yerushalmi, E., Gardiner, B., 2014. An Assessment of the Feasibility and Usefulness of Developing Skills Forecasting in the NET MED Youth countries – Regional Situational Analysis Report. Report for UNESCO, Institute for Employment Research University of Warwick, 2015.
Taylor, J., Hafner, M., Yerushalmi, E., Smith, R., Bellasio, J., Vardavas, R., Bienkowska-Gibbs, T., Rubin, J., 2014. Estimating the economic costs of antimicrobial resistance: model and results. RAND Report, RR911.
Gerald A. M., Wilson, R. A., Yerushalmi, E., 2013. How Does Wage Flexibility Affect Skill Mismatches in the UK? Interfacing a CGE Labour Market Module with the E3ME Multi-sector Macroeconomic Model. CEDEFOP Project on Forecasting Skill Supply and Demand in Europe 2020, Thessaloniki.
Yerushalmi, E., Hunt, P.E., Hoorens, S., Sauboin, C., Smith, R.D., 2012. The Macro-Economic Impact of Reducing Malaria: An Application of a Dynamic General Equilibrium Modelling to Ghana. PIN82 Value in Health 15, A400.
Wilson, R. A, Yerushalmi, E., 2012. Forecasting Skill Supply and Demand in Europe: Interfacing a CGE Labour Market Model for All Countries. Technical Paper. CEDEFOP Project on Forecasting Skill Supply and Demand in Europe 2020, Thessaloniki.
DeltaRail, 2006. South West Trains Franchise Bid: Revenue Forecast Model. Franchise Bid. London.
DeltaRail, 2006. “one”s Revenue Model. Project Report. London, Delta Rail (AEA Technology).
DeltaRail, 2006. The Value of the Economic Losses Caused by the Tesco Tunnel Collapse: Chiltern versus Tesco. Report. London.
Economic Models, 2005. The Demand Outlook for Natural Gas in Israel for Electricity Generation: An Optimization Model. Report. Tel-Aviv, Israel.
Economic Models, 2005. National Electricity Demand Forecast for Israel: An Analysis Using a Dynamic Multi-Sector Macroeconomic Model. Report. Tel-Aviv, Israel.
Economics Models, 2005. Israel Towards 2020: An Analysis Using a Dynamic Multi-Sector Macroeconomic General Equilibrium Model for Israel. Report. Israel, Economic Models.
Economics Models, 2005. Where to Invest Efficiently? An Optimisation Model for Israel’s Electricity Company. Report. Israel, Economic Models, 2005.
Economic Models, 2004. The Future of Israel’s Communication Sector: An Applied Forecasting Model. Report. Tel-Aviv, Israel.
Kolnik Consulting, 2004. A Cost-Benefit Analysis of the Shaar-Hagai Valley Bridge in Jerusalem. Ministry of Transportation. Report. Israel, Kolnik Consulting, 2004.
Kolnik Consulting., 2004. A Cost-Benefit Analysis for Extending the Even Gvirol Road in Tel-Aviv. Ministry of Transportation. Report. Jerusalem, Israel.
Kolnik Consulting., 2003. An Evaluation of the Taxi Market in Israel, Could Improvements Be Made? Ministry of Transportation. Report. Jerusalem, Israel.
Yerushalmi, E., and M. Yerushalmi., 2003. Who Is Expected to Win in Ashdod? An Election Pole Survey. Report, Israel.
Yerushalmi, E., 2002. Introducing a Water Market in Israel: A Computable General Equilibrium Policy Analysis. Final MSc. Thesis. Denmark: Copenhagen Business School.
Copenhagen Economics, 2001. The Economic Integration of the Øresund Region. Øresund Chamber of Commerce. Report. Copenhagen, Denmark [Accessed: 07/11/2021].
Copenhagen Economics, 2001. Do Bang & Olufsen Exhibit Market Power in Denmark. Danish Competition Authority. Report. Copenhagen,Denmark.
Copenhagen Economics, 2001. Do Danish Power Plants Exert Market Power? Danish Competition Authority. Report. Copenhagen, Denmark.
Copenhagen Economics, 2001. Skill Cluster Analysis in Denmark, A Mapping Using Quantitative Methods. Report. Copenhagen, Denmark [Accessed: 07/11/2021].
Lorentzen, J, and Yerushalmi, E., 2000. Which Students Should be Admitted? An Audit of Copenhagen Business School, Working Paper. Copenhagen Business School, Copenhagen, Denmark.
NON-ACADEMIC WORK
Yerushalmi, M., Yerushalmi, E., Yerushalmi, Z., Yerushalmi, D., 2012. Buki the Flying Dog. Lulu.com, S.l. (Editor: Diane Yerushalmi)
Translation for Yerushalmi, M., 2007. From Baghdad to Jerusalem. Lulu Enterprises, UK Ltd. (Editor: Diane Yerushalmi