The Israeli Economy, 1995–2017

'In the past few decades, the Israeli economy became a global innovation powerhouse, drastically reduced its national Debt to GDP ratio, and brought unemployment down to a historic low. Yet poverty and inequality levels remain high, the cost of living is crushing young families, housing prices are soaring and congestion in the roads is appalling. This book explores in detail both the bright and dark sides of this uneven and perplexing performance and makes a great contribution to our understanding of fundamental trade-offs in economic and social policies, which characterize not just Israel but much of the western world. Ben-Bassat, Gronau, and Zussman deserve high praise for this magnificent volume.' Manuel Trajtenberg, Tel Aviv University 'The period 1995-2015 can be described as the Israeli economy's transition to adulthood. This transition was affected by strong external shocks - ranging from the second Intifada, which erupted in 2000, to the discoveries of natural gas, which started in 1999 - and sharp policy changes such as lowering tax rates and government spending from 2003 onwards. The volume tackles this complex period with 17 excellent chapters that analyze systematically its economic aspects.' Zvi Hercowitz, IDC Herzliya 'This book provides a fascinating perspective on Israel's transformation from a centrally planned society struggling to integrate waves of migrating tribes into a unified nation, to what it is today; a market-oriented society that applauds individualism and rewards success. This impressive collection of studies of the contemporary Israeli economy covers a wide range of aspects in society's well-being, from educational achievements and health to income, inequality, and growth. You do not need to be a long-time observer of Israel to learn from this book about the economics of the Israeli journey.' Yona Rubinstein, London School of Economics and Political Science