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ISSN 1565-3250

601820 '

www.bankisrael.org.il

" ' " ,2014 31

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32 ...................................................... .1

36 ................................................................. .2

43 ............................................................................ .3

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118 .... ? .3

124 ........................................ - .1

129 ................................................... .2

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134 ................................................................................. .4

138 ............................................................................ .5

140 ...................................................................................... .6

142 ........ " " :1-'

145 .................................... -

147 ............... :3-'

150 ........................................................................... ?

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158 ................................................................................................. .2

164 .................................................................................. .3

166 ............................................................................................. .4

169 ........................................................ .1

174 .................................................................... .2

183 ......... 2007 .1

188 ..........................................

191 ............................................................... .3

192 ................................................................ ,

196 ................................................................................. - .1

204 ............................................................ .2

208 ............................................... :1-'

211 ................... - :2-'

4 ............................................... 2013 2009 , 1-'

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24 .....................................................................

30 ..................2013 2003 , - : 3-'

32 ......................................2013 1995 , 1-'

34 ......................................2013 1995 , 2-'

36 ....................................2013 1995 , 3-'

37 ........................................ 2013 1995 , 4-'

, : 5-'

40 .................................................................................... 2013 1995

43 .....................................2013 1995 , 6-'

46 .............................. 2013 1995 , , 7-'

48 ................................2013 1995 , 8-'

60 .................................................................. 2013 2009 ,

73 ...........................2013 2009 , 2-'

76 .......................................... 2013 2009 , 3-'

78 ...................................... 2013 2009 , 4-'

82 ................................. 1-' -'

87 ....................................................................................2013 2003

89 .............................................2013 ,( )

( ) 3-'

94 .......................................................... 2013 2008 ,

102 ................................................2013 2010 , , "

108 ................ 2012 1996 , 1-'

114 ...............................................................

115 ................... ,baseline hazards ratio 3-'

121 .................. 2011 , , 4-'

125 ....................................................................................2013 2007

128 .................................................... 2011- 1995- OECD-

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129 ....................................................................................2013 2007

130 ....................2013 4-'

132 ....................................................................................2013 2007

140 ................................. 2013 2009 , 6-'

155 .......................................... 2013 2001 , : 1-' -'

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157 ...........................................................................................

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159 .......................................................................................

164 ..............................................2013 2009 , " 4-' -'

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166 ..................................................................................

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170 ......................2012- 2001 ,

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172 ............................................................................. 2012- 2001

172 ......2012- 2001 ,( ) 4-' -'

173 ..........................................................2012 , 5-' -'

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177 ...........................................................2011 2007 ,

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179 ........................................................... 2006 ,OECD-

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Coe, D. T. and E. Helpman (1995), "International R&D Spillovers", European Economic Review,

Vol 39.

Romer, P.M. (1990), "Endogenous Technical Change", Journal of Political Economy, Vol 98.

Griliches, Z. (1988), "Productivity Puzzles and R&D: Another Non-explanation", Journal of

Economic Perspectives, Vol 2.

Guellec, D. and B. P., Potterie (2001), "R&D and Productivity Growth: Panel Data Analysis of 16

OECD Countries", OECD Economic Studies, No. 33.

Nadiri, I. (1993), "Innovations and technological spillovers", NBER Working Paper Series No. 4423.

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Kamil, H., (2008): "Is Central Bank Intervention Effective Under Inflation Targeting Regimes? 16

The Case of Colombia", International Monetary Fund, IMF Working Paper WP/08/88.

Adler, G., Tovar, C. (2011) "Foreign Exchange Intervention: A Shield Against Appreciation Winds?" 17

International Monetary Fund, IMF Working Paper WP/11/165.

Disyatat, P., Galati, G., (2007) "The Effectiveness of Foreign Exchange Intervention in Emerging Market Countries: Evidence from the Czech Koruna" Journal of International Money and Finance 26(3), pp.92-123.

,86 ,"? " :(2013) . , 18

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Flug, K., Shpitzer, A. (2013): "Rethinking Exchange Rate Policy in a Small Open Economy: the 19

Israeli Experience During the Great Recession", BIS Papers NO 73, 189-204.

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Svensson, L.E.O. (2003): "What Is Wrong with Taylor Rules? Using Judgment in Mon- : 29

etary Policy through Targeting Rules." Journal of Economic Literature 41: 426-477.

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Yakhin, Y., Presman, N., : (. 2013. "A Flow-Accounting Model of the Labor Market: An Application to Israel." Bank of Israel,

Elkayam, E., Ilek, A. (2013): "Estimat- : Research Department, Discussion Paper. Forthcoming. ing the NAIRU using Both the Phillips and the Beveridge Curves", Bank of Israel, Research Depart-

ment, Discussion Paper No. 2013.10.

, . ; "

Argov, E., Barnea, A., Binyamini, A., Borenstein, E., Elkayam, D., Rozenshtrom, I., 2012. "A DSGE

Model for Analysis of the Israeli Economy (MOISE)." Bank of Israel, Research Department, Discus-sion Paper No. 2012.06.

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Myers, S. and Majluf, N. (1984), "Corporate Financing and Investment Decisions when Firms have Information the Investors do not have", NBER Working Paper Series, No. 1936.

,"Jensen, M. (1986), "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers

The American Economic Review, Vol. 76, No. 2, 323-329.

Jensen, M. and Meckling, W. (1976), "Theory of the firm: Managerial Behavior, Agency Costs andOwnership Structure, Journal of Financial Economics, Vol. 3, 305-360.

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Bhagwati, J. and V. Dehejia (1994), "Free Trade and Wages of the Unskilled – isMarx Striking Again?" in Bhagwati, J. and M. Kosters (eds.), Trade and Wages:Leveling Wages Down?, Washington, DC: AEI Press.

Barba Navaretti, G., D. Checchi and A. Turrini (2003), "Adjusting Labor Demand:Multinational versus National Firms", Journal of the European EconomicAssociation, 1 (2-3): 708-719.

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Bonthuis, B., V. Jarvis and J. Vanhala (2012), "What's Going on Behind the Euro

Area Beveridge Curve(s)?", European Central Bank Worker Paper Series No. 1586.

Hobijn, B. and A. Sahin (2013), "Beveridge Curve Shifts across Countries since the

Great Recession", Federal Reserve Bank of San Francisco working paper.

Kroft, K., F. Lange, M.J. Notowidigdo and L.F Katz (2013), "Long-Term

Unemployment and the Great Recession: The Role of Composition, Duration

Dependence, and non-Employment", working paper.

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Kopits, George, and Steven A. Symansky. Fiscal policy rules. Vol. 162. International monetary fund, 31

1998. J. Alm (1988). Uncertain Tax Policies, Individual Behavior, and Welfare. American Economic 32

Review, 78(1), 237-245. Jesús Fernández-Villaverde et al. Fiscal volatility shocks and economic activity. No. w17317. 33

National Bureau of Economic Research, 2011.

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Friedmann Y. and R. Frish (2010), "The Effect of the Liquidity Constraint on the Accessibility of 10

Higher Education in Israel", Israel Economic Review Vol. 8.

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IMF Staff Discussion Note (2014): "Redistribution, Inequality and Growth" 14

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.Milanovic, 2005; Theil, 1989; Akita, 2000; Braun, 1988 2

, , , , , : 3

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, 2012 . 2005 4

, 2009 . . 11 .2016—2012

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—1997 : - " , - ,

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Akita, T. (2000). Decomposing regional income inequality using two-stage nested Theil

decomposition method . International University of Japan.

Braun, D. (1988). "Multiple measurements of US income inequality". The Review of

Economics and Statistics, 398-405.

Haughton, J., & Khandker, S. R. (2009). Handbook on poverty and inequality. World Bank.

Milanovic, B. (2005). "Half a World: Regional inequality in five great federations". Journal

of the Asia Pacific Economy, 10(4), 408-445.

Theil, H., & Sorooshian, C. (1979). "Components of the change in regional inequality".

Economics Letters, 4(2), 191-193.

Theil, H. (1989). "The development of international inequality 1960–1985". Journal of

Econometrics, 42(1), 145-155.

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