Browsing by Author "Melnick, Rafi"

Now showing items 1-3 of 3

2016-10-12Buch

Disinflation and the Phillips Curve: Israel 1986-2015

Melnick, Rafi; Strohsal, Till

A Phillips Curve (PC) framework is utilized to study the challenging post-1985 disinflation process in Israel. The estimated PC is stable and has forecasting power. Based on endogenous structural break tests we find that ...
2015-02-12Buch

From Galloping Inflation toPrice Stability inSteps

Israel 1985–2013

Melnick, Rafi; Strohsal, Till

After the introduction of a stabilization program Israeli inflation decreased from 400% in 1985 to 2% in 2013. This paper analyzes how the remarkable transition process of Israel’s disinflation took place. We reinforce the ...
2015-05-27Buch

The Time-Varying Degree of Inflation Expectations Anchoring

Strohsal, Till; Melnick, Rafi; Nautz, Dieter

Abstract: Well-anchored inflation expectations have become a key indicator for the credibility of a central bank’s inflation target. Since the outbreak of the recent financial crisis, the existence and the degree of ...