Iceland
Author: International Monetary
Publisher: International Monetary Fund
Published: 2022-06-27
Total Pages: 34
ISBN-13:
DOWNLOAD EBOOKIceland: Selected Issues
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Iceland
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
Published: 2017-06-22
Total Pages: 41
ISBN-13: 1484304985
DOWNLOAD EBOOKIceland: Selected Issues
Iceland: Selected Issues
Author: Ben Hunt
Publisher: INTERNATIONAL MONETARY FUND
Published: 2005-10-14
Total Pages: 67
ISBN-13: 9781451819298
DOWNLOAD EBOOKThis Selected Issues paper for Iceland reports that it faces a considerably less favorable inflation-output variability trade-off than do Canada or the United States. A number of measures should be considered that could help minimize the cost of inflation breaching the tolerance band and help to lower the probability of such events occurring. To effectively target inflation, central banks need to be forward looking, responding early to prospective demand pressures. Having housing prices explicitly in the target ensures that the central bank will monitor developments in the housing market closely.
Iceland
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
Published: 2013-08-07
Total Pages: 24
ISBN-13: 148432997X
DOWNLOAD EBOOKThis Selected Issues paper analyses the impact of a potential rebalancing of Icelandic residents’ investment portfolios as capital controls are lifted. It applies optimal portfolio theory to calculate the potential rebalancing toward foreign assets, and then makes an estimate of the cumulative impact on the balance of payments and international reserves. Conclusions for the authorities’ capital account liberalization strategy are drawn. This paper also measures the potential budgetary savings from improving the efficiency of public spending in health and education in Iceland. A Data Envelopment Analysis is used to estimate an efficiency frontier by comparing across Organization for Economic Cooperation and Development countries the transformation rates of public spending into valuable social outcomes.
Iceland
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2010-10-04
Total Pages: 55
ISBN-13: 145520854X
DOWNLOAD EBOOKIn this study, during 2008, the financial crisis lead Iceland’s public debt to soar from under 30 percent of GDP to more than 100 percent of GDP, and while underlying external debt came down sharply, it remains elevated at close to 300 percent of GDP. First, external sustainability is overviewed, and second, growth of Iceland’s economy has been challenged, and finally, fiscal adjustments and its macroeconomic impacts are overviewed. Traditional external debt sustainability analysis (DSA) suggests that Iceland’s external debt is sustainable but is vulnerable to depreciation shock.
Iceland: Selected Issues
Author: Robert Tchaidze
Publisher:
Published: 2007
Total Pages: 42
ISBN-13:
DOWNLOAD EBOOKIceland
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
Published: 2015-03-13
Total Pages: 63
ISBN-13: 1498313744
DOWNLOAD EBOOKThis Selected Issues paper examines implications of capital account liberalization in Iceland. Capital controls were critical in 2008 to avoid a more severe collapse of the Icelandic economy. Six years later, capital inflows have been liberalized, but most outflows remain restricted. Iceland has used the breathing room to reduce flow and stock vulnerabilities, strengthen institutions, and prepare for the lifting of capital controls. Simulations using the central bank’s Quarterly Macroeconomic Model (QMM) suggest that, compared with the 2008 crisis episode, the economy can better withstand the impact of an abrupt removal of capital controls. However, the outcome would be dependent on a number of factors, including resident depositor behavior.
Iceland: Selected Issues
Author: International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Published: 2002-07-03
Total Pages: 18
ISBN-13: 9781451819236
DOWNLOAD EBOOKThis Selected Issues paper reports on the technical aspects of the model-based inflation forecasts of the Central Bank of Iceland (CBI) and the monetary transmission mechanism in Iceland. The paper summarizes the structure and results of time series models employed by the CBI to forecast inflation and quantify lags in the transmission of monetary policy changes. The paper also briefly discusses recent inflation trends, including the IMF staff's estimate of the exchange rate pass-through. The paper presents some remarks on potential distortions in the financial market pass-through of monetary policy changes.
Iceland
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 1999-07-27
Total Pages: 146
ISBN-13: 1451819218
DOWNLOAD EBOOKThis Selected Issues paper focuses on the European Monetary Union and the monetary policy framework in Iceland. It concludes that in terms of an exchange rate regime, the two most realistic options for Iceland are to continue with the existing arrangement or adopt a unilateral peg to the euro. However, it is argued that both options entail the need for enhancing the independence of the central bank, which will require reforming the Central Bank of Iceland Act. The paper also discusses a Scandinavian forecasting model for inflation in Iceland.
