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Israel: Selected Issues

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  • International Monetary Fund

Abstract

The methodologies used in this paper suggest that Israel’s real exchange rate is moderately undervalued, while gains in external competitiveness appear to have been eroded in recent years. Market-based indicators provide a useful additional dimension to the analysis of financial stability in Israel. The Israeli government has made far-reaching reforms to financial markets in recent years. Banks’ performance and financial strength have been improving. This paper proposes two rules that are based on a debt-brake concept and an alternative error-correction-mechanism toward fiscal policy in Israel.

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  • International Monetary Fund, 2008. "Israel: Selected Issues," IMF Staff Country Reports 2008/063, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2008/063
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    1. Frank Bodmer, 2006. "The Swiss Debt Brake: How it Works and What Can Go Wrong," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 142(III), pages 307-330, September.
    2. International Monetary Fund, 2007. "Israel: Selected Issues," IMF Staff Country Reports 2007/025, International Monetary Fund.
    3. Xavier Debrun & Laurent Moulin & Alessandro Turrini & Joaquim Ayuso-i-Casals & Manmohan S. Kumar, 2008. "Tied to the mast? National fiscal rules in the European Union [‘Constitutions, politics, and economics’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 23(54), pages 298-362.
    4. Mr. Stephan Danninger, 2002. "A New Rule: The Swiss Debt Brake," IMF Working Papers 2002/018, International Monetary Fund.
    5. Mr. Natan P. Epstein & Mr. Selim A Elekdag & Ms. Marialuz Moreno Badia, 2006. "Fiscal Consolidation in Israel: A Global Fiscal Model Perspective," IMF Working Papers 2006/253, International Monetary Fund.
    6. Mr. George Kopits & Mr. Steven A. Symansky, 1998. "Fiscal Policy Rules," IMF Occasional Papers 1998/011, International Monetary Fund.
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