Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...

This paper describes the Bank of Israel's investment philosophy and policy. The paper focuses on the strategic asset allocation framework and the role of the Monetary Policy Committee in setting the investment strategy. The abundant FX reserves in recent years, and falling yields on traditional...