This morning, the Bank of Israel is marking the end of Dr. Karnit Flug's term as governor of the bank with a conference at the Van Leer Institute in Jerusalem. Among those attending is former governor Stanley Fischer, who will also participate in the official leaving ceremony that will be held for Flug tomorrow at the Israel Museum. Fischer will be a speaker at that event.
Another participant at the conference is Jacob Frenkel, also a former governor of Israel's central bank. Frenkel's name was mentioned as possible successor to Flug, but he ruled out the possibility of returning to the post.
The conference program was organized by Deputy Governor of the Bank of Israel Dr. Nadine Baudot-Trajtenberg together with the head of the bank's Research Department Prof. Michel Strawczynski. The first part of the conference will deal with economic advice to the government on inequality and narrowing wealth gaps, while the second half will be on monetary policy.
Frenkel and Fischer will participate on a session on monetary policy and the inflation target regime together with Ilan Goldfein, President of the Central Bank of Brazil and originally from Haifa; Governor of the Czech National Bank Ji?í Rusnok; Deputy Governor of the Sveriges Riksbank Martin Floden; and Baudot-Trajtenberg. The Swedish and Czech economies are similar to Israel's in size and performance, while Brazil represents one of the world's largest economies.
Laurence Boone, Chief Economist at the OECD, will lecture in the first part of the conference on inclusive growth on the OECD's member states. Senior Bank of Israel officials will lecture in this part of the conference on, among other things, the effect of negative income tax on employment of those entitled to it and their partners, and on home ownership and public housing. Flug initiated the idea of negative income tax in Israel when she was head of the Bank of Israel Research Department.
Flug's successor is Amir Yaron, a professor of banking and finance at the Wharton School of the University of Pennsylvania.
Published by Globes, Israel business news - en.globes.co.il - on November 4, 2018
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