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Author Scacciavillani, Fabio.

Title Measures of potential output : an application to Israel / prepared by Fabio Scacciavillani and Phillip Swagel
Published [Washington, D.C.] : International Monetary Fund, European I Department, [1999]
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Description 1 online resource (28 pages) : illustrations
Series IMF working paper ; WP/99/96
IMF working paper ; WP/99/96
Summary The Israeli economy has changed dramatically over the past decade. The 1985 stabilization program-which saw inflation fall from 185 percent to close to 20 percent within a year-was followed by a massive wave of immigration that increased the population by almost 20 percent. As shown in Figure 1, output grew at an annual rate of nearly 7 percent for sustained periods, expanding on the order of 40 percent over the six years from 1989 to 1995. The unemployment rate rose both before and during the height of the immigration in 1990 and 1991, but then fell back as the new skilled labor force was absorbed (bottom of Figure 1). This process was aided by a shift toward high-technology sectors and an export-oriented investment boom aimed at taking advantage of the increased human capital. However, output growth in Israel slowed to a rate in 1997 of 2.7 percent, and then slowed further to 1.9 percent in 1998, while the unemployment rate rose from 6 percent at the start of 1996 above 9 percent in the middle of 1998 before falling off at the end of the year
Bibliography Includes bibliographical references (pages 27-28)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Industrial productivity -- Israel.
Inflation (Finance) -- Israel.
Production functions (Economic theory)
Unemployment -- Israel.
Israel -- Economic conditions.
Form Electronic book
Author Swagel, Phillip.
International Monetary Fund. European I Department.
ISBN 1281601616