Monetary policy and the financial crisis in Iceland

• Published in: Tímarit um viðskipti og efnahagsmál
• Main Author: Zoega, Gylfi
• Format: Article in Journal/Newspaper
• Language: Icelandic
• Published: Institute of Business Research 2010
• Subjects: Monetary policy; financial stability; carry trade; eurozone; E5; Peningamálastefna; fjármálastöðugleiki; vaxtamunarviðskipti; evruhagkerfi; Gerðar; Stjórn; Iceland
• Online Access: http://www.efnahagsmal.is/article/view/a.2010.7.2.6; https://doi.org/10.24122/tve.a.2010.7.2.6

This paper describes the monetary policy framework in the years 2001-2008, discusses the weaknesses that were revealed during these years and proposes changes that should increase the effectiveness of monetary policy in the future. The central bank should be given both more instruments as well as ob...