Comparing the two significant recessions Israel experienced over the last decade, we highlight the importance of sustained fiscal discipline and credible monetary policy during normal times for expanding the set of policy options available at a time of need. In the first recession Israel was...

Much has been written about the kibbutzim (plural of “kibbutz”, a uniquely Israeli social collective), and their eventual decline may seem, at least to many economists, an obvious and inevitable outcome. As such, writing a new book that offers a rigorous and nontrivial economic analysis,...

This paper characterizes families that changed their locality of residence within Israel – internal migration. The analysis draws on a nation-wide sample of households in 1983 and 1995, combining the characteristics of the migrants with those of the localities of origin and destination. The...

This paper estimates the effects of equipment investment on relative wages and employment of skilled labor and explores their dynamics. The basic hypothesis is that they are positive, due to either equipment-skill complementarity or to skill advantage in technology adoption. Using a panel data...

The focus of this paper is the link between income volatility and the accumulation of human capital in the presence of credit constraints. Also, the effect of income inequality on the accumulation of human capital within the same framework is studied.