Cover IMF Working Papers
Israeli Inflation From An International Perspective
Author: Mr. David William Harold Orsmond and Mr. Stanley Fischer
Series:
IMF Working Papers
Volume/Issue:
Volume 2000: Issue 178
Language:
English
Publication Date:
01 Nov 2000
DOI:
https://doi.org/10.5089/9781451858945.001
ISBN:
9781451858945
ISSN:
1018-5941
Pages:
45
Keywords:
WP; inflation target; inflation pressure; private sector; inflation experience; inflation level; inflation inertia; anti-inflation policy; disinflation effort; stabilization inflation plateau; backward-looking inflation threshold; digit inflation; inflation experience of Israel; moderate inflation; inflation expectation; Inflation; Inflation targeting; Disinflation; Structural reforms; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Download PDF (1.3 MB) Download Epub
Israel’s post-stabilization experience of moderate inflation and eventual disinflation is compared with experiences in other countries. Lessons that emerge from an examination of international experiences indicate the importance of establishing early on credibility in the nominal anchor and a commitment to persevere with disinflation policies, achieving and maintaining a tight fiscal position, measures to reduce nominal rigidities, and widespread structural reform. Israel falls short on several criteria which explains why taming inflation in the post-stabilization period has been difficult. The paper concludes with a consideration of institutional arrangements that could sustain the current low inflation levels.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund

dimension badge: