Bank of Israel
MIT junior Caroline Shinkle’s MISTI experience provided her with a solid understanding of Israeli culture from a personal and professional perspective as she spent the summer working at the central bank of Israel at its headquarters in Jerusalem.
Caroline worked in the Monetary and Finance Divisions of the Research Department at the Bank of Israel where her research culminated in an academic paper focusing on recent issues in systemic risk regulation. “I specifically studied the implications of the proposed proprietary trading regulation in the European Union, as described in the Liikanen Report, on smaller ‘third’ economies such as that of Israel.”
Caroline’s research spanned various pieces of major financial regulation legislation to be implemented in the European Union (Liikanen Report) and the United Kingdom (Vickers Proposal) as well as regulations that have already been enacted in the United States (Dodd-Frank Act). However, Caroline concentrated on the legislation being considered for implementation in the European Union since it will likely have the most influence on Israel’s future economic outlook. “It was fascinating to build an understanding of the new measures from the point of view of the Israeli market. The knowledge that I gained this summer will be invaluable as I continue to monitor the global economic climate and pursue my Economics and Management (Finance) degrees at MIT.”
While in Israel, Caroline had the pleasure of meeting with prominent experts on the global economy and was able to gain their insight on potential ramifications of the sweeping reform packages on various banking sectors. Caroline met with Stanley Fischer (Governor, Bank of Israel) and Agustin Carstens (Governor, Bank of Mexico) as well as Eugene Kandel (Head, National Economic Council, Israel, and Economic Advisor to Prime Minister Benjamin Netanyahu).