The paper suggests that several factors, besides tight monetary policy, may well have contributed to the high real interest rates that have been observed in Israel. The paper examines the impact of unanticipated changes in nominal interest rate monetary policy shocks on a number of variables in...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

EXECUTIVE SUMMARY This report is provided to support the work of the ‘Sheshinski II’ committee in reviewing the fiscal regime for mining. Mining is, and will remain, relatively minor both as a source of government revenue and within the wider economy. Nonetheless, it is important that the...

The paper utilizes a theoretical stock-flow accounting model of the labor market, similar to Blanchard and Diamond (1989). Identifying restrictions are derived from the theoretical model and are imposed on a SVAR system. The estimation allows for decomposing fluctuations to their cyclical and...

For decades, Maghrebi decision-makers have instrumentalised friend and foe narratives with regard to Israel and Iran, two of the most controversial regional actors in the MENA region. Only Morocco has official relations with Israel, only Algeria and Tunisia with Iran. A systematic analysis of...