Israel: Background Studies, Information Notes, and Statistical Appendix

International Monetary Fund

No 1998/028, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Israel during the 1990s. The paper analyzes tax revenue shortfalls in 1995–97. The factors that have contributed to overruns in the budget deficit relative to its targeted level are examined. The analysis indicates that the main difficulty has stemmed from the revenue side, and details the various areas where problems have occurred. The paper examines whether stable estimating equations for the major tax components can be established. The paper also examines volatility of interest rates in Israel.

Keywords: ISCR; CR; monetary policy; GDP; output gap; securities transaction; exchange control system; exchange arrangement; shekel trading band; HP filter; Potential output; Inflation; Corporate income tax; Inflation targeting (search for similar items in EconPapers)
Pages: 114
Date: 1998-04-05
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:1998/028

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