In the light of Stiglitz and Bilmes (2008): The true cost of the Gaza war for Israel
DOI:
https://doi.org/10.15355/epsj.20.2.5Keywords:
Gaza War, Economic cost, Bank of Israel, cost of warAbstract
The cost of the Gaza war for Israel, as estimated by the Israeli Minister of Finance and Bank of Israel, does not consider a wide range of expenses, which have not been disclosed to Israeli taxpayers. This study examines the true cost of the Gaza war for Israel using Stiglitz and Bilmes’s (2008) approach. The findings indicate that the true cost of the war, based on our calculations, is more than twice the budgetary costs estimated by the Israeli Ministry of Finance and Bank of Israel. We also demonstrate that the ultimate cost could be higher owing to substantial future obligations on the Israeli economy.
Keywords: Gaza War, Economic Cost, Accounting Cost, Bank of Israel, Israeli Ministry of Finance
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