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.
Tables des matières:
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 a 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 -Annex 1.A1. Progress in structural reform Chapter 2. Challenging Times for Monetary and Fiscal Policy -The 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