The performance of the Palestinian economy in 1994-2000 was uneven, but for the period as a whole, real per capita income declined despite the mobilisation of substantial amounts of foreign aid and despite considerable progress in establishing a basic institutional framework. This paper argues...

Underlying the existence of macroeconomics as a separate field of study are the phenomena of economy-wide fluctuations of output and prices, and sometimes persistent high levels of unemployment. Two basic views of macroeconomic behavior have persisted even as conceptual innovati ons and the...