Iceland Should Replace Its Central Bank with a Currency Board.
In this contribution, we discuss the menu of policy regimes available for Iceland. Each regime is evaluated against the characteristics of the Icelandic economy. We start with a short description of the Icelandic economy. We then examine the costs and benefts of alternative monetary regimes. We conc...
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Palgrave Macmillan
2019
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ftulundlup:oai:lup.lub.lu.se:5904b3fd-84eb-492b-90f5-c54d73560bf4 2023-05-15T16:42:41+02:00 Iceland Should Replace Its Central Bank with a Currency Board. Andersson, Fredrik N G Jonung, Lars Aliber, Robert Z. Zoega, Gylfi 2019-06-10 https://lup.lub.lu.se/record/5904b3fd-84eb-492b-90f5-c54d73560bf4 eng eng Palgrave Macmillan https://lup.lub.lu.se/record/5904b3fd-84eb-492b-90f5-c54d73560bf4 scopus:85084429058 Economics iceland monetary policy currency board Financial Crisis finacial crisis contributiontobookanthology/chapter info:eu-repo/semantics/bookPart text 2019 ftulundlup 2023-03-22T23:27:12Z In this contribution, we discuss the menu of policy regimes available for Iceland. Each regime is evaluated against the characteristics of the Icelandic economy. We start with a short description of the Icelandic economy. We then examine the costs and benefts of alternative monetary regimes. We conclude that no regime Iceland has tried since attaining full sovereignty in 1918 has provided economic and financial stability in the long run. We reach the conclusion that Icelandshould follow the example of some other small economies and microstates and settle on a currency board, in this case with the euro as the anchor currency. To ensure the sustainability of the currency board, we recommend additional reforms of the labour market and of the fiscal framework of Iceland. Book Part Iceland Lund University Publications (LUP) |
institution |
Open Polar |
collection |
Lund University Publications (LUP) |
op_collection_id |
ftulundlup |
language |
English |
topic |
Economics iceland monetary policy currency board Financial Crisis finacial crisis |
spellingShingle |
Economics iceland monetary policy currency board Financial Crisis finacial crisis Andersson, Fredrik N G Jonung, Lars Iceland Should Replace Its Central Bank with a Currency Board. |
topic_facet |
Economics iceland monetary policy currency board Financial Crisis finacial crisis |
description |
In this contribution, we discuss the menu of policy regimes available for Iceland. Each regime is evaluated against the characteristics of the Icelandic economy. We start with a short description of the Icelandic economy. We then examine the costs and benefts of alternative monetary regimes. We conclude that no regime Iceland has tried since attaining full sovereignty in 1918 has provided economic and financial stability in the long run. We reach the conclusion that Icelandshould follow the example of some other small economies and microstates and settle on a currency board, in this case with the euro as the anchor currency. To ensure the sustainability of the currency board, we recommend additional reforms of the labour market and of the fiscal framework of Iceland. |
author2 |
Aliber, Robert Z. Zoega, Gylfi |
format |
Book Part |
author |
Andersson, Fredrik N G Jonung, Lars |
author_facet |
Andersson, Fredrik N G Jonung, Lars |
author_sort |
Andersson, Fredrik N G |
title |
Iceland Should Replace Its Central Bank with a Currency Board. |
title_short |
Iceland Should Replace Its Central Bank with a Currency Board. |
title_full |
Iceland Should Replace Its Central Bank with a Currency Board. |
title_fullStr |
Iceland Should Replace Its Central Bank with a Currency Board. |
title_full_unstemmed |
Iceland Should Replace Its Central Bank with a Currency Board. |
title_sort |
iceland should replace its central bank with a currency board. |
publisher |
Palgrave Macmillan |
publishDate |
2019 |
url |
https://lup.lub.lu.se/record/5904b3fd-84eb-492b-90f5-c54d73560bf4 |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
https://lup.lub.lu.se/record/5904b3fd-84eb-492b-90f5-c54d73560bf4 scopus:85084429058 |
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1766033065084190720 |