OECD Economic Surveys [electronic resource].
Publishing, OECD.
Paris : OECD Publishing,
2016.
Description based upon print version of record.
Table of contents; Basic statistics of Israel, 2014; Glossary; Executive summary; The economy has strong fundamentals, but productivity performance has been weak; Per capita GDP and productivity; Income inequality and poverty are high; Poverty rate relative to threshold of 50% of median disposable income; The fiscal framework is not conducive to inclusive growth; Expenditure on educational institutions; Assessment and recommendations; The economy is resilient and has sound fundamentals; Figure 1. Macroeconomic performance has been solid; The short-term outlook is expected to improve
Figure 2. Effective exchange rates and export performanceTable 1. Macroeconomic indicators and projections; Table 2. Possible shocks to the Israeli economy; Narrowing divides between communities; Figure 3. Better Life Index (BLI) reflects the great diversity of the Israeli population; Maintaining an expansionary monetary stance and public debt reduction remains appropriate; Monetary policy in a challenging context; Figure 4. Monetary policy indicators; Preserving financial stability; Figure 5. Financial indicators, 2014
Figure 6. Household debt is low, and the risk profile of new mortgages has been reducedAdjusting the fiscal framework to better address the nation's economic and social needs; Figure 7. The general government accounts have strengthened; Figure 8. Revised medium-term fiscal targets; Figure 9. Cutting public expenditures has led to inadequate spending in some key sectors; Productivity-enhancing reforms to boost growth and make it more inclusive; Figure 10. Productivity gap and TFP; Strengthening competition in the sheltered sectors of the economy
Figure 11. Trade openness is relatively low and product market regulation stringentFigure 12. The productivity gap between the exposed and sheltered sectors is large and price levels high; Figure 13. Tariff and non-tariff trade barriers are high; Figure 14. Regulation in retail trade is restrictive; Figure 15. The banking sector has an oligopolistic market structure; Raising the education level of disadvantaged groups; Figure 16. The economic benefits of boosting average education are potentially large
Figure 17. Resources and outcomes in education have increased, but further progress is neededWell-designed reforms to promote social cohesion and share the fruits of growth; Better integrating the disadvantaged groups into the labour market; Figure 18. The employment rate has increased, but wage growth has been quite sluggish; Improving supply conditions on the housing market; Figure 19. Supply conditions in the housing market have improved somewhat; Improving the pension system and the welfare of retirees; Figure 20. The ageing process and public pension costs are quite moderate
Table 3. Gross and net pension replacement rates