We estimate a small DSGE model by full information Bayesian techniques on the basis of Israeli data from 1995 to 2006. The model was first developed and estimated by means of classical GMM in Argov and Elkayam (2010), and since then it has been used at the Bank of Israel for monetary policy...

This paper presents a medium-scale micro-founded model with real and nominal imperfections, named "MOISE" (MOdel for the ISraeli Economy). The model was developed at the Bank of Israel to support monetary policy formulation, and builds on similar models in wide use among central banks. It...

The Israeli financial system withstood the global financial crisis (GFC) of 2007–09 relatively well and came out unscathed. Notwithstanding this favourable outcome, Israel is a small open economy, which means that its domestic financial conditions cannot be disconnected from the consequences...