Iceland 2009
Series: OECD economic surveys -- v. 2009/16, Sept. 2009; OECD economic surveys -- v. 2009/16, September 2009.
Publisher: OECD
Published: 2009
Place of publication: Paris
Language: eng
Number of pages: 105
ISBN-13: 9789264054516; 9789264054523
Subjects: Economic conditions; Economic policy; Economic history
Other titles: Iceland
Description: This 2009 edition of OECD's periodic survey of Iceland's economy examines the impact of the financial crisis and makes recommendation on how it should be managed.
Notes: Includes bibliographical references.
Table of contents: title: Table of contents; Executive summary; Assessment and recommendations; Chapter 1. The financial and economic crisis; Iceland's three main banks became vulnerable to a deterioration in global financial markets; Private sector balance sheets became vulnerable after rapid expansion; An unsustainable, domestic-demand led economic boom developed; The banks were unable to resist the deterioration in global financial markets; Aftermath of the collapse of Iceland's main banks; Prudential supervision and regulation need to be strengthened; Notes; Bibliography; Annex 1.A1. Progress in structural reform; title: Chapter 2. Challenging times for monetary and fiscal policiesThe limits of monetary policy in a very small open economy; The future of monetary policy; Substantial fiscal consolidation measures are urgently needed; Measures to increase public revenues; Measures to contain public spending; Concluding remarks; Bibliography