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...

This report provides an assessment of fiscal transparency practices in Israel against the requirements of the IMF Code of Good Practices on Fiscal Transparency. The assessment has two parts. The first part is a description of practice, prepared by the IMF staff on the basis of discussions with...

The recent government administrations and the Bank of Israel (BOI) are determined to obtain and preserve a stable currency and macroeconomic environment, in addition to deepening the financial sector. The BOI plays a key role in liquidity management and absorbing liquidity shocks owing to the...

The Israeli economy has seen both rapid growth and price stability, and subsequently a very sharp deceleration. The design and execution of fiscal policy have improved markedly in recent years, but further progress is needed. It is also important to make further, steady progress with the...

This paper presents an update to the Report on the Observance of Standards and Codes Fiscal Sector Modules for Israel. The 2000–01 Financial Sector Assessment Program mission assessed Israel’s compliance with the Basel Core Principles for effective banking supervision. Israel was found...