In this paper we examine the effect of monetary policy on the Israeli economy, and in particular on unemployment and the evolution of prices, for the period between 1990 and 1999, using the SVAR methodology. The four endogenous variables are the unemployment rate in deviations from its trend,...

The financial crisis motivated thinking about interaction between financial and monetary stability policies. These policies are more interrelated than previously thought. The purpose of the paper is to develop an analytical framework that analyzes these interactions. We use an...

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...