Zvi Hercowitz

• Political economy, growth, and business cycles
• The Israeli economy
• Cyclical ratcheting in government spending
• Financial Factors in Economic Stabilization and Growth
• Government spending adjustment
• On optimal currency substitution policy and public finance
• On the determination of the external debt
• Stochastic detrending and measurement of business cycles, Israel 1964-1987
• The effect of mass immigration on the employment of natives