Macroeconomic factors in general, and the macropolicy response to common external shocks (such as oil prices and real interest rates) in particular, have in recent decades played a dominant role in countries' protracted growth crises as well as in growth renewal and its long-run sustainability....

The paper considers the interplay of the design and execution of stabilization policy and structural reform with the role of various agents and pressure groups in a democracy. The context is the political economy of Israel's transition from a successful stabilization to a renewed growth process...

A high inflation process is usually due to a real imbalance and cannot be cured without a correction of real furamenta1s. Yet it can be characterized as a quasi-stable nominal process which gets divorced from the real system in what Patinkin could call a valid classical dichotomy. This paper...

The first part of the paper analyzes the various components (as well as likely failures) in the complex two-way market chain that links the supply of economic theories with the design, sale and implementation of workable economic policies. Among other aspects of this link two points are...

This article analyses the roots of the deep crisis that has afflicted the Israeli economy since 1973 and the attempt at economic reform and recovery since 1985. All of these are discussed against the background of the long-term evolution in Israel's structure and growth process. At the center of...