Price controls were part of Israel's stabilization program of July 1985. Some results of the program seem to be inconsistent with competitive macroeconomic models. It is suggested that these results are consistent with an economy that has an oligopolistic market structure. The paper explores the...

Price controls were part of Israel's stabilization program of July 1985. Some results of the program seem to be inconsistent with competitive macroeconomic models. It is suggested that these results are consistent with an economy that has an oligopolistic market structure. The paper explores the...

I examine the growth rate of GDP per capita in Israel, and compare it with the growth of many other countries. Although Israel's growth rate was above average, its ranking changes when the comparison is conditioned on the initial level of development, as measured by GDP per capita. This is...