David Klein: Israel’s macro economic policy and the European standards Speech by Mr David Klein, Governor of the Bank of Israel, for the Euro Conference, Tel Aviv, 4 September 2001. *  *  *  Israel is an open economy, more than many other countries in the world.
For a more detailed discussion, see S. S. Poloz, “Life After Liftoff: Divergence and U.S. Monetary Policy Normalization” (speech to the Mayor’s Breakfast Series, Ottawa, 7 January 2016).