The Lessons of Israel's Great Inflation

(Hardback)

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This analysis of Israel's successful stabilisation programme challenges current thinking on macroeconomic policy. It reviews and examines the take-off of runaway inflation and of the subsequent stabilisation policy in what can be seen as laboratory conditions. Since Israel's stabilisation 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 programmes. Professional economists concerned with macroeconomics, money, credit and banking, monetary and banking theory, economic policy, and inflation and stabilisation, as well as Latin American and East European scholars, should find this work extremely informative.

Reviews

Barkai's highly absorbing monograph on Israeli inflation reflects both his eminence as a scholar and the practical insight he gleaned during his long service as an advisor to the Israeli government and the Bank of Israel.-Choice
"Barkai's highly absorbing monograph on Israeli inflation reflects both his eminence as a scholar and the practical insight he gleaned during his long service as an advisor to the Israeli government and the Bank of Israel."-Choice

Author Bio

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.