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 rate of inflation in Israel increased from 8 percent in 1965 to 300-400 percent in the first half of 1984. The inflationary process until 1977 was not qualitatively different from that in the OECD countries, but after the financial liberalization of 1977 the economy appeared to move into a...

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...

The comprehensive stabilization program that Israel launched in July 1985 has brought about a dramatic reduction in inflation at no visible unemployment cost while improving the external financial position of the country. The program's success lies in a drastic cut in the government deficit but...

Rampant inflation is a major economic problem in many of the less developed countries; two out of three attempts to stabilize these economies fail. Inflation Stabilization provides a valuable description and a critical analysis of the disinflation programs introduced in Argentina, Bolivia,...

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...