Description

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This analysis of Israel's successful stabilization program challenges current thinking on macroeconomic policy. It reviews and examines the take-off of runaway inflation and of the subsequent stabilization policy in what can be seen as laboratory conditions. Since Israel's stabilization policy is one of only two which have actually succeeded, it offers important lessons to all East European and many Latin American countries in the design and implementation of these programs. Professional economists concerned with macroeconomics, money, credit and banking, monetary and banking theory, economic policy, and inflation and stabilization, as well as Latin American and East European scholars, will find this work extremely informative.

About the Author

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HAIM BARKAI is Sapir Professor of Economics at the Hebrew University, Jerusalem. He has served as Chairman of the Department of Economics and as Dean of the Faculty of Social Sciences. He was also a fellow of the Falk Institute of Economic Research in Jerusalem. From the late 1960s until the early 1980s, he was a board member and later chairman of the Advisory Committee and Board of the Bank of Israel. He also served as Chairman of the Committee on Public Sector Salaries and as a member of the Bank of Israel Committee on Banking Policy.