Abstract
ABSTRACT This paper examines the short- and potential long-term economic costs and benefits to Israel from its war with Hamas and Hezbollah that began in October 2023. As of October 2024, Israel’s economy has not returned to its pre-war level of output, and Israel’s government’s debt is increasing to pay for the war. The long run effect of the war will depend on its outcome, but there is potential for a very negative economic effect since the war might cause or contribute to a brain drain of young and talented Israelis. Israel is very vulnerable to a brain drain since it has many high-tech workers who have a comparatively easier time in re-locating to new countries than other workers since with their skills, they should be able to find well-paying jobs in other countries.
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