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Periodicals and Publication Series
Theoretical Inquiries
in Law
Facts and Trends
The Israeli Democracy
Immigration Detention
in Israel
Israel Environment
Military and Strategic

Latest Reports
The Effect of Terrorism on Housing Rental Prices: Evidence from Jerusalem
Author: Nadav Ben Itzhak
Discussion Paper 2018.08, 09-2018
Bank of Israel - Research Department
September 2015 was the beginning of a new large-scale terror wave in Israel, hitting Jerusalem more than any other major city. Considering this terror wave as an exogenous shock to the housing rental market in Jerusalem, this study analyzes its effect on rental prices compared to Tel-Aviv and within Jerusalem. Immediately after the beginning of the terror wave, rental prices in Jerusalem declined, compared to Tel-Aviv, reaching a 2%-3% decrease within a year..
Estimated Natural Rate of Interest in an Open Economy: The Case of Israel.
Author: David Elkayam, Guy Segal
Discussion Paper 2018.05, 07-2018
Bank of Israel - Research Department
The new Keynesian framework as presented in Clarida et al. (2002) suggests that in an open economy, the natural rate of interest consists of a local component (the expected growth of domestic total factor productivity) and a global component (the expected growth of world output). We estimate an augmented Taylor-type rule for Israel and confirm that the above-mentioned components contain valuable information about the monetary interest rate..