These two volumes were written on the occasion of the fiftieth anniversary of the founding of the Bank of Israel. They recount the monetary history of Israel from 1948, when the country was established (and before) to the present day. Volume I retells Israel's monetary history, analyzes the...

Volume II provides an in-depth analysis of important specific issues, detailed discussion of the independence of the Bank of Israel, and an econometric study of the central banks policies. This volume also includes a historical account of the liberalization of Israel's foreign-exchange market...