Iceland: Selected Issues

July 27, 1999

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Format: Chicago

Iceland: Selected Issues, (USA: International Monetary Fund, 1999) accessed November 23, 2024

Summary

This 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.

Subject: Banking, Commercial banks, Current account deficits, Exchange rates, Financial institutions, Foreign exchange, Inflation, Personal income tax, Prices, Securities, Taxes

Keywords: Central bank, Commercial banks, CR, D. forecasting inflation, Equation residual, Europe, Exchange rates, Inflation, Inflation equation, ISCR, Personal income tax, Securities, Wage inflation, Western Europe, World inflation

Publication Details

Pages:

146
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1999/068
Stock No:

1ISLEA0011999
ISBN:

9781451819212
ISSN:

1934-7685

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