Research and other papers

The development over time of expenditure per student and a teacher-quality index
26/03/2019 | Topics in education: The development over time of expenditure per student and a teacher-quality index
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Structural change in agriculture: Decline in the share of water-intensive crop industries
24/03/2019 | The use of water in agriculture has become much more efficient in recent decades, in view of the increase in the price of water for growers: the output per unit of water has increased markedly.
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The effective retirement age a decade after the increase in the retirement age
12/03/2019 | The average effective retirement age, the age at which workers aged 50 and over leave the labor force, has increased over the years. The rise in the statutory retirement age between 2004 and 2009 contributed to the increase among both men and women
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New research: The effect of public transportation on employment in Arab society
05/03/2019 | New research has found that the improvement in public transportation has had, at least to date, a minimal impact on employment in Arab society, and particularly it was not found that it led to women joining the labor force.
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Exchange rate pass-through to prices
27/02/2019 | The exchange rate pass-through to prices is defined as the change in prices deriving from a change in the exchange rate.
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Changes in the share of first home buyers among young people, based on income level
26/02/2019 | Changes in the share of first home buyers among young people, based on income level
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New Research: Getting to Work in Israel: Locality and Individual Effects
18/02/2019 | Research published today by the Bank of Israel analyzes the effects of employee characteristics and the public transportation infrastructure on the manner of getting to work.
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The Impact of Yields Abroad and the Public Debt on Real Yields of Israeli Government Bonds: A Reexamination
12/02/2019 | The Impact of Yields Abroad and the Public Debt on Real Yields of Israeli Government Bonds: A Reexamination
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Private transportation in Israel: An analysis of developments in the past two decades
11/02/2019 | Private transportation in Israel: An analysis of developments in the past two decades
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The Wage Premium on Higher Education: Universities and Colleges
01/01/2019 | A study published today by the Bank of Israel examines the increase in wages as a result of obtaining higher education at different types of institutions in Israel (universities, private colleges and public colleges).
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The Bank of Israel publishes the Financial Stability Report for the second half of 2018
23/12/2018 | The Bank of Israel publishes the Financial Stability Report for the second half of 2018
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An excerpt from the Financial Stability Report to be published soon: Commercial real estate in Israel
19/12/2018 | An excerpt from the Financial Stability Report to be published soon: Commercial real estate in Israel
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It Takes More than Two to Tango: Understanding the Dynamics Behind Multiple Bank Lending and its Implications
17/12/2018 | It Takes More than Two to Tango: Understanding the Dynamics Behind Multiple Bank Lending and its Implications
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LTV Limits and Borrower Risk
17/12/2018 | Within the framework of the joint international conference on systemic risks and macroprudential limitations, held by Bank of Israel and the CEPR, the Bank of Israel is presenting research entitled:
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The Bank of Israel’s International Conference on Systemic Risk and Macroprudential Policy
17/12/2018 | The international conference, entitled “Systemic Risk and Macroprudential Policy” is being held by Bank of Israel in collaboration with the CEPR in Tel Aviv on December 17–18, 2018.
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New Research: The Effect of Print Media Tone on the Equity Market in Israel
24/10/2018 | “Much Ado About Nothing”? The Effect of Print Media Tone on the Equity Market in Israel
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Fiscal Policy in the Past Two Years and Fiscal Projection for 2019-2022
22/08/2018 | The Bank of Israel is releasing today a fiscal survey that analyzes the 2018 and 2019.
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The Effect of the Size of Child Allowances on the Labor Supply
20/08/2018 | How do government allowances impact on the labor supply? This question has considerable importance in light of the major changes made by the government in the size and composition of the allowances in recent years
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New research: The strategies employed by algorithmic traders on the Tel Aviv Stock Exchange
25/07/2018 | New research: The strategies employed by algorithmic traders on the Tel Aviv Stock Exchange and the connection between them and indicators of trading quality
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The ability to get to work by public transit from various localities in Israel: Relative Accessibility Index
23/07/2018 | There are clear differences between the localities in Israel in terms of the possibility of getting to places of work by public transit relative to the possibility of getting there by private vehicle.
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Competition between gas stations in the Israeli diesel market
18/07/2018 | This analysis makes innovative use of data from Waze on travel duration between gas stations to calculate the characteristics of the stations’ control areas.
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The Immediate and Persistent Effect of the Bank of Israel’s Foreign Exchange Purchases on the Exchange Rate
02/07/2018 | Research conducted at the Bank of Israel finds that the discretionary foreign exchange purchases by the Bank of Israel beginning in 2009 led to an immediate depreciation in the shekel vis-à-vis the dollar in more than 90 percent of the cases.
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New Research: To Accept or Not to Accept? Considerations in Providing Credit Insurance
07/05/2018 | The research finds that the factors with the greatest impact on the decision are the size of the insured company, the diversification of the insurer’s activities in various countries, and the risk of the insured company’s clients
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Excerpt of a box on investment in housing and in the capital market: a historical comparison
15/01/2018 | The price increases, low interest rates on mortgages, and low returns in other investment channels put the question of whether investment in a dwelling is preferable to investment in the capital market on the public agenda.
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New Research- The Wage Response to a Reduction in Income Tax Rates: The 2003–09 Tax Reform in Israel
07/01/2018 | New Research- The Wage Response to a Reduction in Income Tax Rates: The 2003–09 Tax Reform in Israel
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The Effect of Vocational Education on Short- and Long-Term Outcomes: Evidence from the Arab Education System in Israel
05/12/2017 | Approximately one-third of high school students in Israel study in vocational education tracks. The study estimates the effect of vocational education compared to general studies in high school on a range of outcomes.
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Publication of “Selected Research Analyses” and the final paper from that collection, dealing with changes in the risk distribution mechanism in the pension funds
07/11/2017 | The changes made in the pension funds are reducing the intergenerational distribution of risk, since in recent years it has created actuarial deficits (basically an intergenerational subsidy) due to how the yield and the interest rate are set.
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New Research: Does financial regulation unintentionally ignore less privileged population groups?
15/10/2017 | Research conducted by Prof. Orly Sade of the Hebrew University of Jerusalem and Maya Haran Rosen of the Bank of Israel examines the “Money Mountain” regulation as a test case of digital financial regulation regarding pension savings.
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The GDP price deflator, CPI and terms of trade
03/10/2017 | Over the past three years, the GDP price deflator has increased by a cumulative 4.4 percent, while the CPI has declined by 0.8 percent. This means that the increase in GDP in terms of the consumer product basket exceeded its (quantitative) growth
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The Development of the Electricity Market in Israel: Toward a Sustainable Electricity Market
28/09/2017 | Electricity production through renewable energy lags significantly behind government targets, after also lagging behind in the previous decade.
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Is there a gender difference in the basic skills of workers and in the return on those skills in Israel?
26/09/2017 | This study found that gender gaps in basic skills explain just a small part of the wage gaps between men and women, and that a significant portion of the wage gaps reflects a higher return on skills for men at all skill levels.
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Analysis of the Quality of Twelve-Month Forward Inflation Forecasts
25/09/2017 | The forecasts of inflation 12 months forward carries great importance, since they present the public’s expectations regarding inflation, which reflect, inter alia, the public’s confidence in monetary policy.
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New Research: The effect of monetary policy on the supply of credit: a new approach to identifying the firms' balance sheet channel
09/08/2017 | • The research examines the effect of monetary policy on firms’ supply of credit through the firms' balance sheet channel, and finds evidence of a Bank of Israel impact via this transmission channel
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New Research: Dividends from Unrealized Earnings and Default Risk
28/06/2017 | The research examines whether distributions from unrealized earnings increase default risk above and beyond distributions of realized earnings.
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Activity and Financing in the Vehicle Market
26/06/2017 | In recent years, there has been a marked and constant increase in new vehicle sales in Israel. According to the Association of Vehicle Importers, there were 286,728 new private vehicles sold in Israel in 2016, more than 12 percent higher than in 2015.
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Research Department conference – “Skills of Employees in Israel”
11/06/2017 | The Bank of Israel Research Department conference, held as a joint initiative with the Central Bureau of Statistics, is taking place today in Jerusalem.
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New Research at Bank of Israel: The private consumption function in Israel
05/06/2017 | The study, which distinguishes between the short-term and long-term effects of private consumption, finds that the level of private consumption in the long term is determined mainly by income from labor and the financial assets held by households
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An analysis of the fiscal developments in 2016, a fiscal point of view for 2017, and expected developments over the remainder of the decade
22/03/2017 | The fiscal survey is the Research Department’s analysis of budgetary developments in 2016, and the expected development of government expenditure and revenue, the budgetary deficit, and the debt-to-GDP ratio in 2017–2020.
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Why the Bank of Israel Intervenes in the Foreign Exchange Market, and What Happens to the Exchange Rate
19/03/2017 | The research examines the effect on the exchange rate of the Bank of Israel’s intervention in the foreign exchange market.
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Excerpt from the Fiscal Survey and collection of research issues: Significant revisions in estimating housing starts
12/02/2017 | The data on housing starts serve as an important input in formulating policy in the housing market, as well as in formulating monetary policy.
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