Zvi Eckstein

Zvi Eckstein is Dean of the School of Economics in the Interdisciplinary Center Herzliya and served as Deputy Governor of the Bank of Israel from 2006 to 2011.

  • The Great Recession

    The Great Recession

    Lessons for Central Bankers

    Jacob Braude, Zvi Eckstein, Stanley Fischer, and Karnit Flug

    Experts assess the role of central banks in responding to the recent financial crisis and in preventing future crises.

    The recent financial crisis shook not only the global economy but also conventional wisdom about economic policy. After the collapse of Lehman Brothers in September 2008, policy makers reversed course and acted on an unprecedented scale. The policy response was remarkable both for its magnitude and for the variety of measures undertaken. This book examines both the major role central banks played in the crisis and the role they might play in preventing or preparing for future crises.

    The contributors, central bankers from around the world, focus on monetary policy, the new area of macroprudential policy, and issues of exchange rates, capital flows, and banking and financial markets. They look at the experiences of both developed and emerging economies, considering why some, including Israel and Australia, suffered only mild effects while others—Ireland for example—plunged into severe financial crisis.

    • Hardcover $35.00 £28.00
    • Paperback $19.75 £15.99
  • Immigration and Labor Market Mobility in Israel, 1990 to 2009

    Immigration and Labor Market Mobility in Israel, 1990 to 2009

    Sarit Cohen Goldner, Zvi Eckstein, and Yoram Weiss

    A study of the labor market integration of highly skilled Soviet immigrants to Israel that formulates dynamic models of job search and human capital investment.

    After the collapse of the Soviet Union in 1989, Soviet Jews emigrated in large numbers to Israel. Over the next ten years, Israel absorbed approximately 900,000 immigrants from the former Soviet Union, an influx that equaled about twenty percent of the Israeli population. Most of these new immigrants of working age were college-educated and highly skilled. Once in Israel, they were eligible for a generous package of benefits, including housing subsidies, Hebrew language training, and vocational education. This episode provides a natural experiment for testing the consequences of a large immigration inflow of skilled workers. This book provides a detailed analysis of the gradual process of occupational upgrading of immigrants and the associated rise in their wages.

    Based on their analysis, the authors conclude that even a very large and unanticipated wave of immigration can be integrated within the local labor market without any significant long-term adverse economic effect on natives. The small effect on wages and employment of natives is explained by the capital inflows into Israel and the gradual entry of immigrants into high-skill jobs as they invest in local human capital. An important contribution of the book to the immigration literature is the formulation and estimation of stochastic dynamic models that combine job search with investment in human capital and the analysis of alternative government policies within this framework.

    • Hardcover $9.75 £7.99
    • Paperback $35.00 £28.00

Contributor

  • Secrets of Economics Editors

    Secrets of Economics Editors

    Michael Szenberg and Lall Ramrattan

    Experienced economics editors discuss navigating the world of scholarly journals, with details on submission, reviews, acceptance, rejection, and editorial policy.

    Editors of academic journals are often the top scholars in their fields. They are charged with managing the flow of hundreds of manuscripts each year—from submission to review to rejection or acceptance—all while continuing their own scholarly pursuits. Tenure decisions often turn on who has published what in which journals, but editors can accept only a fraction of the papers submitted. In this book, past and present editors of economics journals discuss navigating the world of academic journals. Their contributions offer essential reading for anyone who has ever submitted a paper, served as a referee or associate editor, edited a journal—or read an article and wondered why it was published.

    The editors describe their experiences at journals that range from the American Economic Review to the Journal of Sports Economics. The issues they examine include late referee reports, slow resubmission of manuscripts, and plagiarism—as well as the difficulties of “herding cats” and the benefits of husband-wife editorial partnerships. They consider the role of the editor, as gatekeeper or developer of content; and they advise authors to write more carefully and clearly, to include citations that locate their articles in the context of the existing literature, and to update their work after it has been submitted and rejected elsewhere. The chapters also offer a timely, insider's perspective on the general effectiveness of the system of academic journals in economics.

    Contributors Richard V. Adkisson, Richard G. Anderson, William A. Barnett, Suzanne R. Becker, William R. Becker, Daniel W. Bromley, William G. Dewald, Antony W. Dnes, Zvi Eckstein, Richard Friberg, Esther Gal-Or, Craufurd Goodwin, Thorvaldur Gylfason, Campbell R. Harvey, Geoffrey M. Hodgson, Leo H. Kahane, R. Preston McAfee, John Pencavel, Gerald Pfann, Steven Pressman, Lall B. Ramrattan, J. Barkley Rosser Jr., Paul H. Rubin, William F. Shughart II, Robert M. Solow, Daniel F. Spulber, Michael Szenberg, Timothy Taylor, Abu N.M. Wahid, Michael Watts, Lawrence J. White, Jürgen von Hagen, Fabrizio Zilibotti

    • Paperback $19.75 £15.99