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Europe > Iceland

You are looking at 1 - 4 of 4 items for :

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Cover IMF Staff Country Reports
Iceland: Selected Issues
International Monetary Fund. European Dept.
Selected Issues
Keywords:
ISCR; CR; OOH cost; Iceland fish catch; CPIXH inflation; Iceland fishing quota holder; inflation index; CPI inflation; benchmark index; Agroindustries; Inflation; Inflation targeting; Consumer price indexes; Housing prices; Global; Australia and New Zealand
Cover IMF Staff Country Reports
Iceland: Sixth Post-Program Monitoring Discussions
International Monetary Fund. European Dept.
This paper discusses the recommendations of the Sixth Post-program Monitoring Discussions with Iceland. Iceland recently updated its capital account liberalization strategy. The strategy takes a staged approach, starting with steps to address the balance-of-payments overhang of the old bank estates—prioritizing a cooperative approach with incentives—in a manner consistent with maintaining stability. Growth is accelerating in 2015 and is expected to reach 4.1 percent, backed by significant investment, wage- and debt relief-fueled consumption, and booming tourism. The general government is projected to record a surplus of 0.8 percent of GDP in 2015, helped by large one-offs. Small deficits are also expected over 2016–20.
Keywords:
ISCR; CR; inflation expectation; liberalization; liberalization strategy; capital account liberalization strategy; anchor inflation expectation; wage agreement; net export; Capital account liberalization; Wages; Income; Gender budgeting; Global
Cover IMF Working Papers
International R&D Spillovers and Institutions
Mr. Willy A Hoffmaister
,
Mr. David T. Coe
, and
Mr. Elhanan Helpman
The empirical analysis in "International R&D Spillovers" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in Coe and Helpman about the impact of domestic and foreign R&D capital stocks on TFP. In addition, we show that domestic and foreign R&D capital stocks have measurable impacts on TFP even after controlling for the impact of human capital. Furthermore, we extend the analysis to include institutional variables, such as legal origin and patent protection, in order to allow for parameter heterogeneity based on a country's institutional characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that they impact the degree of R&D spillovers.
Keywords:
WP; R&D capital; estimation technique; group estimates give; time series
Cover IMF Staff Country Reports
Iceland: Recent Economic Developments
International Monetary Fund
This paper reviews economic developments in Iceland during 1990–95. It describes developments in the real economy, and examines monetary and exchange rate developments and policies and the transmission of monetary policy. The paper provides a detailed look at budgetary outcomes and the stance of fiscal policy for 1995. Determinants of past and present growth in Iceland are examined. Indicators of fiscal sustainability are used to argue for better public finances in Iceland. The paper also examines the Icelandic tax structure.
Keywords:
ISCR; CR; net; exchange rate; Iceland; treasury; rate; inflation rate; terms of trade; public finance; treasury note; facilities--repurchase facilities; Iceland interest rate differential; net treasury debt; Iceland interest; Exchange rates; Sovereign bonds; Budget planning and preparation; Exchange rate policy; Agroindustries; Europe