This work decomposes the human capital bundle into two characteristics: "knowledge", associated with one's own education ane experience, and "general skills", associated with parent's education. Using this decomposition we provide a new set of observations on the cyclicability ofboth wages and...

The Israeli economy business cycle properties are different from those of most OECD countries in four main dimensions. Aggregate consumption is twenty percent more volatile than output, the trade balance is much more volatile than output and is procyclical, investment is almost five times more...