Skip to main content Accessibility help
×
Hostname: page-component-586b7cd67f-t8hqh Total loading time: 0 Render date: 2024-11-26T04:57:51.007Z Has data issue: false hasContentIssue false

Part I - Government Policy and Macroeconomic Developments

Published online by Cambridge University Press:  04 February 2021

Avi Ben-Bassat
Affiliation:
Hebrew University of Jerusalem
Reuben Gronau
Affiliation:
Hebrew University of Jerusalem
Asaf Zussman
Affiliation:
Hebrew University of Jerusalem
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
The Israeli Economy, 1995–2017
Light and Shadow in a Market Economy
, pp. 39 - 202
Publisher: Cambridge University Press
Print publication year: 2021

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Primary Sources

Braude, K., and Brender, A. (2003). The Effect of the Israeli Government Liabilities on Its Deficit, 2003–2008. Position Paper, Bank of Israel.Google Scholar
Brender, A., Peled-Levi, O., and Kassir, N. (2002). Government Policy and Labor Force Participation Rates Among the Primary Working Ages: Israel and OECD Countries in the Nineties. Bank of Israel Review, 74, 761.Google Scholar
Brender, A., and Politzer, E. (2018). The Effect of Legislated Tax Changes on Tax Revenues in Israel. The Economic Quarterly, 62, 87128.Google Scholar
Brender, A., and Ribon, S., (2014). The Effect of Fiscal and Monetary Policies, and the Global Economy on Israeli Government Bonds’ Real Yields: A Reexamination after a Decade. Bank of Israel Review, 88, 751.Google Scholar
Committee for Socioeconomic Change (2011). Committee Report.Google Scholar

Secondary Sources

Aghion, P., Cahuc, Y., and Shleifer, A. (2010). Regulations and Distrust. Quarterly Journal of Economics, 125(3),10151049.Google Scholar
Alesina, A., Favero, C., and Giavazzi, F. (2015). The Output Effect of Fiscal Consolidation Plans. Journal of International Economics, 96, S19S42.CrossRefGoogle Scholar
Alesina, A., Perotti, R., and Tavares, J. (1998). The Political Economy of Fiscal Adjustments. Brookings Papers on Economic Activity, 1, 197248.Google Scholar
Bank of Israel. Bank of Israel Annual Report. Various years. Jerusalem: Bank of Israel.Google Scholar
Bank of Israel. (2013). Recent Economic Developments: October 2012 to March 2013, 135, February. Jerusalem.Google Scholar
Bank of Israel. (2014). Recent Economic Developments: October 2013 to March 2014, 137, June. Jerusalem.Google Scholar
Bank of Israel. (2018). Fiscal Policy in the Past Two Years and Fiscal Projection for 2019–2022. Jerusalem: Bank of Israel Research Department, August 2018.Google Scholar
Ben-Bassat, A., and Dahan, M. (2006). The Balance of Power in the Budgeting Process. Jerusalem: Israel Democracy Institute.Google Scholar
Brender, A. (2003). The Effect of Fiscal Performance on Local Government Election Results in Israel: 1989–1998. Journal of Public Economics, 87(9–10), 21872205.Google Scholar
Brender, A. (2007). If You Want to Cut, Cut, Don’t Talk: The Role of Formal Targets in Israel’s Fiscal Consolidation Efforts, 1985–2007. Fiscal Policy: Current Issues and Challenges, 348376.Google Scholar
Brender, A., and Drazen, A. (2005). Political Budget Cycles in New Versus Established Democracies. Journal of Monetary Economics, 52(7), 12711295.Google Scholar
Brender, A., and Drazen, A. (2008). How Do Budget Deficits and Economic Growth Affect Reelection Prospects? Evidence from a Large Panel of Countries. American Economic Review, 98(5), 22032220.CrossRefGoogle Scholar
Brender, A., and Navon, G. (2010). Predicting Government Tax Revenue and Analyzing Forecast Uncertainty. Israel Economic Review, 7(2), 81111.Google Scholar
Dahan, M., and Strawczynski, M. (2017). Budget Institutions and Government Effectiveness. SSRN Mimeo.Google Scholar
International Monetary Fund (IMF) (1997). World Economic Outlook, October, Chapter 3.Google Scholar
Larch, M., and Turrini, A. (2009). The Cyclically-Adjusted Budget Balance in EU Fiscal Policy Making: A Love at First Sight Turned into a Mature Relationship. European Economy-Economic Papers, (374).Google Scholar
Mazar, Y. (2014). Development of the Structural Deficit in Israel, 2000–12. Periodic Papers 2014.101. Jerusalem: Bank of Israel Research Department.Google Scholar
Menashe, Y., and Yachin, Y. (2004). Mind the Gap. Israel Economic Review, 2(2), 79106.Google Scholar
Sussman, Z., and Zakai, D. (2000). From Promoting the Worthy to Promoting All: The Public Sector in Israel 1975–1999. Jerusalem: Bank of Israel Research Department.Google Scholar
Brender, A., and Politzer, E. (2014). The Effect of Legislated Tax Changes on Tax Revenues in Israel. Discussion Paper 2014.08. Jerusalem: Bank of Israel Research Department.Google Scholar
Geva, A., and Drucker, L. (2015). Growth in Israel: From a Developing Economy to a Modern Economy. Bank of Israel Economic Review, 88, 135156.Google Scholar
Dahan, M. (2011). Inequality in Israel. Lecture for the TheMarker Conference, The College, Tel Aviv-Jaffa, September 4, 2011.Google Scholar
Flug, K., and Strawczynski, M. (2007). Persistent Growth and Macroeconomic Performance in Israel. Bank of Israel Economic Review, 80, 73103.Google Scholar
Mazar, Y. (2013). The Effect of Fiscal Policy and Its Components on GDP in Israel. Bank of Israel Economic Review, 87, 3168.Google Scholar
Strawczynski, M. (2015). Israel’s Taxation Policy in Coming Years in light of Growth and Inequality. Policy Paper 2015.2, Aaron Center, IDC Herzliya.Google Scholar
Strawczynski, M. (2016). When Do Governments Raise Statutory Taxes in Israel? In Gliksberg, David (ed.), Collection of Papers in Honor of Prof. Aryeh Lapidot. The Hebrew University of Jerusalem, 227244.Google Scholar
Strawczynski, M., and Kedar, J. (2016). Development of the Progressivity of Statutory Taxes in Israel. In Achdut, Leah, Strawczynski, Michel, and Spivak, Avia (eds.), The State Budget for 2015: The Fifth Conference of the Van Leer Institute Economics and Society Program, 6174.Google Scholar
Zeira, J. (2007). How Does Inequality Affect Growth? Disputes in Economics Series. Publications of the Economics and Society Program, The Van Leer Jerusalem Institute.Google Scholar
Zeira, J., and Strawczynski, M. (2002). Reducing the Relative Size of the Government after 1985. In Ben-Bassat, A. (ed.), The Israeli Economy, 1985–1998: From Government Intervention to Market Economics. Cambridge, MA: MIT Press. Also published in Hebrew by Am Oved, in 2001.Google Scholar
Anderson, P. (2016). The Left and Taxation: the Impact of Electoral Systems. Paper presented at the 72nd Annual Congress of the International Institute of Public Finance (IIPF), held in Lake Tahoe, USA.Google Scholar
Atkinson, A. B., and Stiglitz, J. E. (1976). The Design of Tax Structure: Direct versus Indirect Taxation. Journal of Public Economics, 6(1–2), 5575.Google Scholar
Banerjee, A., Mookherjee, D., Munshi, K., and Ray, D. (2001). Inequality, Control Rights and Rent Seeking: Sugar Cooperatives, Maharashtra. Journal of Political Economy, 109, 138190.Google Scholar
Barro, R. J. (1979). On the Determination of Public Debt. Journal of Political Economy, 87, 941971.CrossRefGoogle Scholar
Barro, R. J. (2000). Inequality and Growth in a Panel of Countries. Journal of Economic Growth, 5, 532.CrossRefGoogle Scholar
Blumkin, T., Margaliot, Y., and Strawczynski, M. (2016). The Effect of Permanent Tax Cuts on Emigration from Israel. CESIFO Working Paper No. 6095.Google Scholar
Blumkin, T., Sadka, E., and Shem-Tov, Y. (2014). International Tax Competition: Zero Tax Rate at the Top Re‐established. International Tax and Public Finance, 22(5), 760776.CrossRefGoogle Scholar
Brender, A., and Navon, G. (2010). Predicting Government Tax Revenues and Analyzing Forecast Uncertainty. Israel Economic Review, 7(2), 81111.Google Scholar
Capersen, E., and Metcalf, G. (1993). Is a Value Added Tax Progressive? Annual Versus Lifetime Incidence Measures. NBER Working Paper 4387. https://www.nber.org/papers/w4387.CrossRefGoogle Scholar
Galor, O., and Moav, O. (2004). From Physical to Human Capital Accumulation: Inequality and the Process of Development. Review of Economic Studies, 71(4), 10011026.Google Scholar
Gomeh, C. and Strawczynski, M. (2019). Simulating corporate tax rate at Laffer Curve’s peak using micro-data. Journal of Economics and Business, Forthcoming.Google Scholar
Gruber, J., and Saez, E. (2002). The Elasticity of Taxable Income: Evidence and Implications. Journal of Public Economics, 84, 132.Google Scholar
Hercowitz, Z., and Lipshitz, A. (2015). Tax Cuts and Economic Activity: Israel in the 2000s. Israel Economic Review, 12(2), 97106.Google Scholar
Hercowitz, Z., and Strawczynski, M. (2004). The Dynamics of Public Debt When There Is a Debt/Output Guideline. Israel Economic Review, 2(1), 91106.Google Scholar
Fredriksson, P., Wan, L., and Warren, P. (2013). Party Politics, Governors, and Economic Policy. Southern Economic Journal, 80(1), 106126.Google Scholar
Nygard, O. E., and Revesz, S. T. (2015). Optimal Indirect Taxation and the Uniformity Debate: A Review of Theoretical Results and Empirical Contributions. Statistics. Norway Research Department, Discussion Paper No. 809.Google Scholar
Stein, E., and Caro, L. (2013). Ideology and Taxes. IDB Discussion Paper.Google Scholar
Panizza, Ugo (2002). Income Inequality and Economic Growth: Evidence from American Data. Journal of Economic Growth, 7, 2541.Google Scholar
Persson, Torsten, and Tabellini, Guido (1994). Is Inequality Harmful for Growth? American Economic Review, 84, 600621.Google Scholar
Pettersson-Lidbom, P. (2008). Do Parties Matter for Economic Outcomes? A Regression-Discontinuity. Journal of the European Economic Association, 6(5), 10371056.Google Scholar
Romer, C., and Romer, D. (2010). The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks. American Economic Review, 100, 763801.CrossRefGoogle Scholar
Strawczynski, M. (2014). Cyclicality of Statutory Tax Rates. Israel Economic Review, 11(1), 6796.Google Scholar
Bank of Israel (2007). The Inflation Target: A Rethinking. Memorandum, August 2007. www.boi.org.il/deptdata/papers/paper13h.pdf.Google Scholar
Ben-Bassat, A. (2001). From Government Intervention to Market Economy: The Israeli Economy, 1985–98, Part 2: Monetary Policy and the Inflationary Process. In Ben-Bassat, A. (ed.), The Israeli Economy, 1985–1998: From Government Intervention to Market Economics. Tel Aviv: Am Oved Publishers, 79204.Google Scholar
Ben-Bassat, I. (1992). Price Indices for Tradable and Nontradable Products. Bank of Israel Review, 66 (January), 1934.Google Scholar
Cohen, G. (2017). A Direct Approach to Identification of the Balance Sheet Channel: An Empirical Examination in Israel. Discussion Paper 2017.08. Jerusalem: Bank of Israel Research Department.Google Scholar
Elkayam, D., Regev, M., and Alashvili, Y. (2002). Estimation of the Output Gap and Examination of its Effect on Inflation in Israel During the Last Few Years. Monetary Studies 2005.03, Bank of Israel Monetary Department.Google Scholar
Orfaig (Flikier), D. (2015). Transmission Channels from the Exchange Rate to the Consumer Price Index: The Tradable Component of the CPI by Industry. Discussion Paper 2015.04. Jerusalem: Bank of Israel Research Department.Google Scholar
Ribon, S. (2009). Core Inflation Indices for Israel. Discussion Paper 2009.08. Jerusalem: Bank of Israel Research Department.Google Scholar
Ribon, S. (2015). Household Personal Inflation: How Does Residential Area Affect It? Discussion Paper 2015.03. Jerusalem: Bank of Israel Research Department.Google Scholar
Segal, G. (2007). An Optimal Interest Rate Rule for the Israeli Economy in the Framework of the Rational Expectations Model. Monetary Studies 2007.05. Jerusalem: Bank of Israel Monetary Department.Google Scholar
Sorezky, A. (2010). Did the Bank of Israel Affect the Exchange Rate? Discussion Paper 2010.10. Jerusalem: Bank of Israel Research Department.Google Scholar
Stein, R., Nathan, D., and Gamarsani, I. (2009). Examining the Effect of Foreign Exchange Market Intervention. Internal Memorandum. Bank of Israel Research Department.Google Scholar
Argov, E., Barnea, E., Binyamini, A., Borenstein, E., Elkayam, D., and Rozenshtrom, I. (2012). MOISE: A DSGE Model for the Israel Economy. Discussion Paper 2012.06. Jerusalem: Bank of Israel Research Department.Google Scholar
Auer, R., Borio, C., and Filardo, A. (2017). The Globalization of Inflation: The Growing Importance of Global Value Chains. CEPR Discussion Paper 11905, March.Google Scholar
Azoulay, E., and Ribon, S. (2010). A Basic Structural VAR of Monetary Policy in Israel Using Monthly Frequency Data. Discussion Paper 2010.04. Jerusalem: Bank of Israel Research Department.Google Scholar
Bank of Israel. Monetary Policy Report. Various periods. Jerusalem.Google Scholar
Bank of Israel. Financial Statements. Various years. Jerusalem.Google Scholar
Bank of Israel. Bank of Israel Annual Report. Various years. Jersualem: Bank of Israel.Google Scholar
Bank of Israel. (2016). Report on the Investment of Israel’s Foreign Exchange Reserves.Google Scholar
Ball, L. (2014). The Case of Long-Run Inflation Target of Four Percent. IMF Working Paper 14/92, June.CrossRefGoogle Scholar
Barnea, A., and Djivre, J. (2004). Changes in Monetary and Exchange Rate Policies and the Transmission Mechanism in Israel, 1989.IV – 2002.I. Discussion Paper 2004.13. Jerusalem: Bank of Israel Research Department.Google Scholar
Bernanke, B. (2016). Modifying the Fed’s Policy Framework: Does a Higher Inflation Target Beat Negative Interest Rates? September 13. Brookings. www.brookings.edu/blog/ben-bernanke/2016/09/13/modifying-the-feds-policy-framework-does-a-higher-inflation-target-beat-negative-interest-rates/.Google Scholar
Blanchard, O., Dell’Ariccia, G., and Mauro, P. (2010). Rethinking Macroeconomic Policy. IMF Staff Position Note, SPN/10/03.Google Scholar
Borio, C., and Zabai, A. (2016). Unconventional Monetary Policies: A Re-appraisal. BIS Working Papers No. 570.Google Scholar
Brender, A., and Ribon, S. (2015). The Effect of Fiscal and Monetary Policies and the Global Economy on Real Yields of Israel Government Bonds. Discussion Paper No. 2015.02. Jerusalem: Bank of Israel Research Department.Google Scholar
Calvo, G. A. (1983). Staggered Prices in a Utility-Maximizing Framework. Journal of Monetary Economics, 12(3), 383398.CrossRefGoogle Scholar
Campbell, J., Evans, C. L., Fisher, J., and Justiniano, A. (2012). Macroeconomic Effects of Federal Reserve Forward Guidance. Brookings Papers on Economic Activity, 1(Spring), 180.Google Scholar
Caspi, I., Friedman, A., and Ribon, S. (2018). The Immediate Impact of FX Intervention on the Exchange Rate and Its Persistence over Time. Discussion Paper 2018.04. Jerusalem: Bank of Israel Research Department.Google Scholar
Cukierman, A. (2005). Legal, Actual and Desirable Independence: A Case Study of the Bank of Israel. CEPR Discussion Paper 4906.Google Scholar
Cukierman, A., and Melnick, R. (2015). The Conquest of Israel Inflation and Current Policy Dilemmas. In Offenbacher, A. (ed.), Maintaining Price Stability: The Bank of Israel’s Sixth Decade. Jerusalem: Bank of Israel Press, 1362.Google Scholar
Djivre, J., and Yakhin, Y. (2010) A Constrained Dynamic Model for Macroeconomic Projection in Israel. Bank of Israel Discussion Paper 2010.11.Google Scholar
Eden, B. (2001). Inflation and Price Adjustment: An Analysis of Microdata. Review of Economic Dynamics, 4(3), 607636.Google Scholar
Elkayam, D. (2003). The Long Road from Adjustable Peg to Flexible Exchange Rate Regimes: The Case of Israel. Monetary Studies 2003.04. Jerusalem: Bank of Israel.Google Scholar
Elkayam, D., and Ilek, A. (2007). The Information Content of Inflationary Expectations Derived from Bond Prices in Israel. Monetary Studies 2007.06. Jerusalem: Bank of Israel.Google Scholar
Filardo, A. J., and Hofmann, B. (2014). Forward Guidance at the Zero Lower Bound. BIS Quarterly Review (March).Google Scholar
Friedman, M. (1969). The Optimal Quantity of Money. Chicago, IL: Aldine Publishing Co.Google Scholar
Forbes, K., Kirkham, L., and Theodoridis, K. (2017). A Trendy Approach to UK Inflation Dynamics. External MPC Unit Discussion Paper No. 49, Bank of England.Google Scholar
Gali, J. (2015). Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New. Keynesian Framework. Princeton, NJ: Princeton University Press.Google Scholar
Horvarth, R., Smidkova, K., and Zapal, J. (2012). Central Banking Voting Records and Future Policy. International Journal of Central Banking, 8(4), 119.Google Scholar
International Monetary Fund (2016). Global Disinflation in an Era of Constrained Monetary Policy. Chapter 3 of IMF World Economic Outlook, October.Google Scholar
Ilzetzki, E., Reinhart, C. M., and Rogoff, K. (2017). Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold? NBER Working Paper No. 23134, February. www.nber.org/papers/w23134.Google Scholar
Kutai, A. (2017). Measuring the Effect of Forward Guidance in Small Open Economies. Unpublished memorandum.Google Scholar
Kryvstov, A., and Mendes, R. (2015). The Optimal Level of the Inflation Target: A Selective Review of the Literature and Outstanding Issues. Discussion Paper, 2015-08. Ottawa: Bank of Canada.Google Scholar
Lach, S., and Tsiddon, D. (1996). Staggering and Synchronization in Price Setting: Evidence from Multiproduct Firms. American Economic Review, 86, 11751196.Google Scholar
Lavi, Y., and Sussman, N. (2007). The Phillips Curve in Israel. Israel Economic Review, 5(1), 93109.Google Scholar
Mihailov, A., Rumler, F., and Scharler, J. (2011). The Small Open-Economy New Keynesian Phillips Curve: Empirical Evidence and Implied Inflation Dynamics. Open Economies Review, 22(2), 317337.Google Scholar
Melnick, R., and Strohsal, T. (2015). From Galloping Inflation to Price Stability in Steps: Israel, 1985–2013. SFB 649 Discussion Paper 2015-009. Freie Universitat Berlin.Google Scholar
Melnick, R., and Strohsal, T. (2016). Disinflation and the Phillips Curve: Israel 1986–-2015. Memorandum, August 2016.CrossRefGoogle Scholar
Mikolajun, I., and Lodge, D. (2016). Advanced Economy Inflation: The Role of Global Factors. ECB Working Paper Series (LIFT –Task Force on Low Inflation), No. 1948.Google Scholar
Mishkin, F. S., and Schmidt-Hebbel, K. (2001). One Decade of Inflation Targeting in the World: What Do We Know and What Do We Need to Know. NBER Working Paper No. 8397. www.nber.org/papers/w8397.Google Scholar
Primicieri, G. (2005). Time Varying Structural Vector Autoregressions and Monetary Policy, The Review of Economic Studies, 72(3), 821852.Google Scholar
Ribon, S. (2004). A New Phillips Curve for Israel. Discussion Paper 2004.11. Jerusalem: Bank of Israel Research Department.Google Scholar
Ribon, S. (2017). Why the Bank of Israel Intervenes in the Foreign Exchange Market, and What Happens to the Exchange Rate. Discussion Paper 2017.04. Jerusalem: Bank of Israel Research Department.Google Scholar
Ribon, S., and Sayag, D. (2013). Price Setting Behavior in Israel: An Empirical Analysis Using Microdata. Discussion Paper 2013.07. Jerusalem: Bank of Israel Research Department.Google Scholar
Ruge-Murcia, F., and Riboni, A. (2017). Collective versus Individual Decision Making: A Case Study of the Bank of Israel Law. European Economic Review, 93, 7389.Google Scholar
Sussman, N., and Zohar, O. (2016). Has Inflation Targeting Become Less Credible? Oil Prices, Global Aggregate Demand and Inflation Expectations During the Global Financial Crisis. Discussion Paper 2016.13. Jerusalem: Bank of Israel Research Department.Google Scholar
Svensson, Lars E. O. (1997). Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets. European Economic Review, 41, 11111146.Google Scholar
Svensson, Lars E. O. (2010). Inflation Targeting. In Friedman, B. M. and Woodford, M. (eds.), Handbook of Monetary Economics, Vol. 3B. Handbooks in Economics. San Diego, CA: North Holland, 12371302.Google Scholar
Taylor, John B. (1993). Discretion versus Policy Rules in Practice.Carnegie-Rochester Conference Series on Public Policy, 39: 195214.Google Scholar
Woodford, Michael (1999). Optimal Monetary Policy Inertia. NBER Working Paper No. 7261. https://www.nber.org/papers/w7261.CrossRefGoogle Scholar
Bank of Israel (1995–2016). Bank of Israel Annual Reports for the Years 1995–2016. Jerusalem: Bank of Israel.Google Scholar
Central Bureau of Statistics (2017). Statistical Abstract of Israel 2017. No. 68. Jerusalem: CBS.Google Scholar
Ozer, B., Reis, S., and Sofer, Y. (2005). Liberalization of the Financial Account in Israel. Working Paper, Bank of Israel.Google Scholar
Adalet, M., and Eichengreen, B. (2007). Current Account Reversals: Always a Problem? In Clarida, Richard H. (ed.), Current Account Balances: Sustainability and Adjustment. Chicago, IL: University of Chicago Press for the NBER, 205246.Google Scholar
Calvo, Guillermo A., Leiderman, L., and Reinhart, C. (1996). Inflows of Capital to Developing Countries in the 1990s. Journal of Economic Perspectives, 10(2), 123139.Google Scholar
de Mello, L., Padoan, P., and Rousova, L. (2010). Are Global Imbalances Sustainable?: Shedding Further Light on the Causes of Current Account Reversals. Paris: OECD Publishing.Google Scholar
Federal Reserve Bank of San-Francisco. On the ‘Tech Pulse’ Index. www.frbsf.org/economic-research/indicators-data/tech-pulse/.Google Scholar
Lane Philip, R., and Milesi-Ferreti, G. M. (2017). International Financial Integration in the Aftermath of the Global Financial Crisis. IMF Working Papers 17/115, International Monetary Fund.Google Scholar
Milesi-Ferretti, G. M., and Razin, A. (1998). Sharp Reduction in Current Account Deficits: An Empirical Investigation. European Economic Review, 42, 897908.Google Scholar
(2000). Current Account Reversals and Currency Crises, Empirical Regularities. In Krugman, P. (ed.), Currency Crises. Chicago, IL: University of Chicago Press, 285323.Google Scholar
Obstfeld, M., and Rogoff, K. (1996). Foundations of International Macroeconomics. Cambridge, MA: MIT Press.Google Scholar
Summers, L. (2016). The Age of Secular Stagnation: What It Is and What to Do About It. Foreign Affairs, February 2016. https://www.foreignaffairs.com/articles/united-states/2016-02-15/age-secular-stagnation.Google Scholar
Bank of Israel (2004). Bank of Israel Annual Report 2003. Jerusalem: Bank of Israel.Google Scholar
Bank of Israel (2007). Bank of Israel Annual Report 2006. Jerusalem: Bank of Israel.Google Scholar
Bank of Israel (2010). Bank of Israel Annual Report 2009. Jerusalem: Bank of Israel.Google Scholar
Central Bureau of Statistics (2017). Defense Expenditure in Israel, 1950–2015, Jerusalem: Central Bureau of Statistics.Google Scholar
Abadie, A., and Gardeazabal, J. (2003). The Economic Costs of Conflict: A Case Study of the Basque Country. American Economic Review, 93(1), 113132.Google Scholar
Ben-Porath, Y., ed. (1986). The Israeli Economy: Maturing Through the Crises. Cambridge, MA: Harvard University Press.Google Scholar
Berglas, E. (1986). Defense and the Economy. In Ben-Porath, Y. (ed.), The Israeli Economy: Maturing Through the Crises. Cambridge, MA: Harvard University Press, 173191.Google Scholar
Berrebi, C., and Klor, E. F. (2010). The Impact of Terrorism on the Defence Industry. Economica, 77(307), 518543.CrossRefGoogle Scholar
Eckstein, Z., and Tsiddon, D. (2004). Macroeconomic Consequences of Terror: Theory and the Case of Israel. Journal of Monetary Economics, 51(5), 9711002.Google Scholar
Eldor, R., and Melnick, R. (2004). Financial Markets and Terrorism. European Journal of Political Economy, 20(2), 367386.Google Scholar
Eldor, R., and Melnick, R. (2010). Small Investment and Large Returns: Terrorism, Media and the Economy. European Economic Review, 54(8), 963973.Google Scholar
Elster, Yael, Zussman, A., and Zussman, N. (2017). Rockets: The Housing Market Effects of a Credible Terrorist Threat. Journal of Urban Economics, 99, 136147.Google Scholar
Elster, Yael, Zussman, A., and Zussman, N. (2019). Effective Counter-Terrorism: Rockets, Iron Dome and the Israeli Housing Market. Journal of Policy Analysis and Management, 38(2), 237308.Google Scholar
Enders, W., Sandler, T., and Parise, G. F. (1992). An Econometric Analysis of the Impact of Terrorism on Tourism. Kyklos, 45(4), 531554.Google Scholar
Fielding, D. (2003a). Modelling Political Instability and Economic Performance: Israeli Investment During the Intifada. Economica, 70(277), 159186.Google Scholar
Fielding, D.(2003b). Counting the Cost of the Intifada: Consumption, Saving and Political Instability in Israel. Public Choice, 116(3/4), 297312.Google Scholar
Fleischer, A., and Buccola, S. (2002). War, Terror and Tourism in Israel: Demand and Supply Factors. Applied Economics, 34(11), 13351343.Google Scholar
Gould, E. D., and Klor, E. F. (2010). Does Terrorism Work? Quarterly Journal of Economics, 125(4), 14591510.Google Scholar
Guidolin, M., and La Ferrara, E. (2007). Diamonds Are Forever, Wars Are Not: Is Conflict Bad for Private Firms? American Economic Review, 97(5), 19781993.Google Scholar
Harel, Amos, and Issacharoff, A. (2008). 34 Days: Israel, Hezbollah, and the War in Lebanon. New York, NY: Palgrave Macmillan.Google Scholar
Lifshitz, Y. (2003). The Economics of Producing Defense: Illustrated by the Israeli Case. Boston, MA: Kluwer Academic Publishers.Google Scholar
Willard, K. L., Guinnane, T. W., and Rosen, H. S. (1996). Turning Points in the Civil War: Views from the Greenback Market. American Economic Review, 86(4), 10011018.Google Scholar
Zussman, A., and Zussman, N. (2006). Assassinations: Evaluating the Effectiveness of an Israeli Counterterrorism Policy Using Stock Market Data. Journal of Economic Perspectives, 20(2), 193206.Google Scholar
Zussman, A., Zussman, N., and Nielsen, M.Ø. (2008). Asset Market Perspectives on the Israeli–Palestinian Conflict. Economica, 75(297), 84115.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×