Lessons of Israel's Great Inflation

HAIM BARKAI is Sapir Professor of Economics at the Hebrew University, Jerusalem. He has served as Chairman of the Department of Economics and as Dean of the Faculty of Social Sciences. He was also a fellow of the Falk Institute of Economic Research in Jerusalem. From the late 1960s until the early 1980s, he was a board member and later chairman of the Advisory Committee and Board of the Bank of Israel. He also served as Chairman of the Committee on Public Sector Salaries and as a member of the Bank of Israel Committee on Banking Policy.

• Figures and TablesPrefaceAcknowledgmentsThe Take-Off of Israel's Great InflationIntroductionBackstageThe Revving-Up PhaseBreaking the Single-Digit Barrier and the Following LullThe Brakes are Off: 1972/IV-1973/IIIThe Political Economy of the Take-OffThe Role of Monetary Policy in Israel's 1985 Stabilization EffortIntroductionA Comparative Review of the Austral, Cruzado, and Sheqel PlansThe Factual and Conceptual Background of the Sheqel PlanThe Monetary DimensionSome Lessons from the Sheqel Plan ExperimentInflation and Stabilization: The MessageReferencesIndex