Reflections On One Year At The Bank Of Israel
AbstractIn this paper I reflect on my first year as Governor of the Bank of Israel, which I joined in May 2005. I start by describing the current state of the Israeli economy and monetary policy and economic developments during the past year. I then review a series of issues that have arisen during the past year. Among them are: the monetary mechanism, which is unusual because exchange rate changes have a very rapid impact on prices; the role of inflation and interest rate expectations in policy decisions; the role of the interest rate gap with the US; the role of the Governor as chief economic adviser to the Government; banking supervision; and management and political issues.
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Bibliographic InfoPaper provided by Laboratory for Macroeconomic Analysis in its series Working Papers with number WP13_2007_02.
Length: 24 pages
Date of creation: Jan 2007
Date of revision:
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