01739cas a2200253 a 4500 AALejournalIMF000218 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451979312 1018-5941 BD-DhAAL BD-DhAAL Razin, Assaf. Fiscal Balance During Inflation, Disinflation, and Immigration : Policy Lessons / Assaf Razin, Efraim Sadka. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (44 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper provides an overview of the role of the fiscal imbalances and the ensuing public debt in explaining major episodes in Israel's recent economic developments. The main conclusions from the Israeli budgetary developments may have more general validity: (a) deficits lead to inflation and stopping inflation requires elimination of deficits; (b) a major effect of inflation is a large shift of the tax burden from capital to labor; and (c) shocks to labor supply, such as massive labor inflow through immigration, can be absorbed without worsening government finances, when the labor and the housing markets are sufficiently flexible. Mode of access: Internet Sadka, Efraim. IMF Working Papers; Working Paper ; No. 1996/033 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/033/001.1996.issue-033-en.xml IMF e-Library