"Real" indexation – unit of account dollarization Long after a country has returned to price stability, and even after the disappearance of almost all asset and liability dollarization, a country may still find that some domestic prices are specified in dollars. This is currently the situation in Israel. During the course of the nineties, financial dollarization declined dramatically in Israel.
For most of the present decade the average inflation rate has been around two percent. Nonetheless, housing and apartment rentals, and the fees for some services, including those of lawyers and accountants, are quoted in dollars. These are all fundamentally nontraded goods.