Iceland

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Iceland: The financial and economic crisis

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15-Oct-2009

David Carey

The paper begins with a discussion of the factors that made the banks, non-financial firms and households vulnerable to deterioration in global financial markets. It goes on to describe the failure of the banks, its direct impact on government debt, the IMF SBA, and the economic outlook.

Iceland: Challenging times for monetary and fiscal policies

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15-Oct-2009

Andrea De Michelis

This paper discusses what policy makers should do in order to restore balance in the Icelandic economy and lay out the foundations for a sustainable recovery.

Economic Survey of Iceland 2009: Challenging times for monetary and fiscal policies

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02-Sep-2009

Inflation performance has been unsatisfactory. By joining the euro area, Iceland would share the benefits of the ECB’s credibility. Substantial fiscal consolidation is required following the financial crisis.   

Economic Survey of Iceland 2009: The financial and economic crisis

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02-Sep-2009

Iceland’s main banks, which had pursued risky expansion strategies, failed in the wake of the global financial crisis, plunging the economy into a deep recession. Prudential supervision needs to be improved. 

Economic survey of Iceland 2008: Towards a more effective monetary policy

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28-Feb-2008

Refinements to the inflation-targeting framework could strengthen the transmission mechanism of monetary policy.

Economic survey of Iceland 2006: Building on the success of financial liberalisation

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09-Aug-2006

Financial market liberalisation has been successful and should continue, in particular by removing distortions in the housing market. 

Economic survey of Iceland 2006: Improving the implementation of monetary policy

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09-Aug-2006

Higher interest rates and clear communication are needed to bring inflation back to the target and strengthen Central bank credibility.

Economic Survey of Iceland 2005: Macro policies to maintain economic balance

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15-Feb-2005

This chapter discusses the factors driving the current expansion, the economic outlook and the macroeconomic policy settings in place to maintain economic stability. The recovery from the mild 2002 recession ...