Download or read book The Icelandic Economy written by and published by . This book was released on 2000 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book tr sarv kingar written by Alaric Hall and published by punctum books. This book was released on 2020 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the global banking boom of the early twenty-first century expanded towards implosion, Icelandic media began calling the country's celebrity financiers útrásarvíkingar: “raiding vikings.” This new coinage encapsulated the macho, medievalist nationalism which underwrote Iceland's exponential financialisation. Yet within a few days in October 2008, Iceland saw all its main banks collapse beneath debts worth nearly ten times the country's GDP.Hall charts how Icelandic novelists and poets grappled with the Crash over the ensuing decade. As the first English-language monograph devoted to twenty-first-century Icelandic literature, it provides Anglophone readers with an introduction to one of the world's liveliest literary scenes. It also contributes a key case study for understanding global artistic responses to the early twenty-first century crisis of runaway, unregulated capitalism, exploring the struggles of writers to adapt realist forms of art to surreal times.As Iceland's biggest crisis since their independence from Denmark in 1944, the effect of the Crash on the national self-image was as seismic as its effects on the economy. This study analyses the centrality of whiteness and the abjection of the “developing world” in Iceland's post-colonial identity, and shows how Crash-writing explores the collisions of Iceland's traditional, nationalist medievalism with a dystopian, Orientalist medievalism associated with the Islamic world.The Crash in Iceland was instantly recognised as offering important economic insights. This book shows how Iceland also helps us to understand the cultural convulsions that have followed the Financial Crisis widely in the West.

Download or read book Deep Freeze written by Philipp Bagus and published by Ludwig von Mises Institute. This book was released on 2011-04-01 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: It was a modern thriving economy one day, and then, suddenly, the food disappeared from the shelves, the banks closed, and the ships stopped arriving. Iceland in 2008 experienced an unprecedented economic meltdown that struck fear in the hearts of people all over the world. If it could happen here, it could happen anywhere. The economic crisis led to a political crisis, with resignations galore. The whining and wailing about the disaster continues to this day, with most commentators blaming deregulation and the free market. In Deep Freeze, economists Philipp Bagus and David Howden demonstrate that the real cause of the calamity was bad central bank policy. Rates were way too low, banks were too big to fail, housing was implicitly guaranteed, and banks were borrowing short term from abroad to finance long term bonds. The authors discuss the implications of this maturity mismatching and zero in on the central bank policies that encouraged unsound practices. They demonstrate the cause and effect without a shadow of a doubt, using vast amounts of data and a detailed sector-by-sector look at the economy of Iceland. What they find is another instance of the Austrian Theory of the Business Cycle, working itself out in a way that is customized for a time and place. Toby Baxendale writes the introducton to this story that reads like a great novel. It serves as a reminder that central banking policies aren't just about monetary arcana. They affect our lives in profound and sometimes catastrophic ways. The Iceland Freeze is one of the great historical cases that makes Mises’s point. Let it always serve as a reminder of what happens when the laws of the market are papered over by politicians and central bankers. This account is likely to remain the definitive one for many years.

Download or read book Iceland and the International Financial Crisis written by Eirikur Bergmann and published by Springer. This book was released on 2014-01-30 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eirikur Bergmann explains the exceptional case of Iceland's fantastical boom, bust and rapid recovery after the Crash of 2008 and explores the lessons for the wider EU crisis and for over-reaching economies that over-rely on financial markets.

Download or read book A brief on the Icelandic economy written by and published by . This book was released on 1984 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Gambling Debt written by E. Paul Durrenberger and published by University Press of Colorado. This book was released on 2019-06-17 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: A look at Iceland’s 2008 meltdown from multiple perspectives: “The story is at once shocking and hilarious . . . But also a testament to human resilience.” —Keith Hart, London School of Economics Iceland’s 2008 financial collapse was the first case in a series of meltdowns, a warning of danger in the global order. This full-scale anthropology of financialization and the economic crisis broadly discusses this momentous bubble and burst and places it in theoretical, anthropological, and global historical context through descriptions of the complex developments leading to it and the larger social and cultural implications and consequences. Chapters from anthropologists, sociologists, historians, economists, and key local participants focus on the neoliberal policies—mainly the privatization of banks and fishery resources—that concentrated wealth among a select few, skewed the distribution of capital in a way that Iceland had never experienced before, and plunged the country into a full-scale economic crisis. Gambling Debt significantly raises the level of understanding and debate on the issues relevant to financial crises, painting a portrait of the meltdown from many points of view—from bankers to schoolchildren, from fishers in coastal villages to the urban poor and immigrants, and from artists to philosophers and other intellectuals. Gambling Debt is a game-changing contribution to the discussion of economic crises and neoliberal financial systems and strategies that touches upon anthropology, sociology, economics, philosophy, political science, business, and ethics. “Honest, entertaining, and informative . . . Explores the changing distribution of wealth and the impact of privatization as well as the historical identity of Iceland and the numerous factors that came together to help produce such an economic meltdown.” —Choice Publication supported in part by the National Science Foundation

Download or read book The state and the Icelandic economy 1870 1930 written by Gudmundur Jonsson and published by . This book was released on 1992 with total page 868 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Iceland An Overview written by A.-K. Rademacher and published by GRIN Verlag. This book was released on 2010-12-03 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2008 in the subject Politics - Region: Other States, grade: 1,3, University of Cooperative Education Mannheim, language: English, abstract: We're selling Iceland," quoted the Financial Times in November 2007 after an interview with Jon Olafsson, CEO of Icelandic Glacial. "The purity and coolness of the island - because Iceland is very cool and hip these days." Though this statement is refered to the water product, it demonstrated the high interest in the island itself. As many know, Iceland is the country where one can witness the phenomenons of Mother Nature: tremendous icecaps and several glaciers, raging rivers and magnificent waterfalls, spouting geysers and steaming solfatara, volcanoes, a multitude of birds and whales. The spectacular landscape is one reason why Iceland's tourism is successful. But in recent years Iceland also drew the attention of many industries to itself. For example, many technological and telecommuniational products have been outsourced in Europe towards Iceland as it provides many competitive advantages in these fields. Iceland is unique: it is the smallest economy in the world that has its own currency and a flexible exchange rate. It is also an advanced country with excellent institutions meaning low corruption index, the rule of law, a highly educated population and more (cf. Iceland Chamber of Commerce 2006). For most of the 1990s the island presented one of the highest consistent growth rates in the world and low inflation and unemployment. Particularly the resource management in the mainstay fisheries sector, price stability and diversification of the industry contributed to this economic record. The paper on hand gives an outline of the country. To begin with general information about the island is described. This includes demographic as well as historical and political aspects. The third chapter sketches the development and structure of the Icelandic economy. Current economic situation and main economic sectors are content of this section. Furthermore, the culture is described with the three pillars being religion, language and common history. Also the cultural dimensions of Hostede are analysed for Iceland. Moreover this paper provides an overview of the Icelandic education system. Finally upcoming topics and problems will be mentioned.

Download or read book Why Iceland written by Asgeir Jonsson and published by McGraw Hill Professional. This book was released on 2009-08-07 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: As late as the mid 1980s, Iceland’s economy revolved around little else than a semi-robust cod-fishing industry. By the end of the century, however, it had transformed itself into a major player in world finance, building an international banking empire worth twelve times its GDP. The tiny island nation of 300,000 was one of the global economy’s great success stories. And then everything came crashing down. Why Iceland? is the inside account of one of the economic meltdown’s most fascinating and far-reaching tragedies. As Chief Economist of Kaupthing Bank, the country’s largest bank before the collapse, Ásgeir Jónsson is perfectly suited to examine Iceland’s collapse in painstaking detail. He witnessed behind-the-scenes events firsthand, such as an intriguing meeting in January 2008 when a group of international hedge fund managers gathered in a bar in Reykjavik to discuss Iceland’s economy—an informal affair that eventually became the center of a criminal investigation by the country’s Financial Supervisory Authority. This inside account examines the pressing issues behind history’s biggest banking collapse: How did Iceland transform itself from one of Europe’s poorest to one of its wealthiest countries? What happened to cause the destruction of the nation’s banking industry during a single week of October 2008? Was it the result of a speculation “attack” by hedge funds on the nation’s currency? Iceland remains the biggest casualty of the economic downturn, and the ramifications of its catastrophic failure reach deeply into the economies of Europe, the United States, and other global markets. Ásgeir Jónsson offers a unique perspective and an expert’s insight into the rise and fall of this once-proud banking giant. Why Iceland? provides the who, what, where, and when of Iceland’s demise, serving as a fascinating read and providing the understanding necessary for forecasting when and where the aftershocks will shake up markets in other parts of the world. "Fearsome Vikings discovered Iceland. Hedge funds knocked it down. It was a humiliating tumble for the former financial powerhouse, which was proud of its status in Europe. A late bloomer, Iceland had been the last country in Europe to be settled, the Nordic nation rapidly caught up with its wealthier relations. It was all fine until October 2008, when country's banking system collapsed in a week. Written by an Icelandic economist, Why Iceland? chronicles the meltdown, in the context of the nation's history."--New York Post (A "Required Reading" Selection)

Download or read book Preludes to the Icelandic Financial Crisis written by R. Aliber and published by Springer. This book was released on 2011-01-19 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Iceland became one of the symbols of the global financial crisis. It provides an ideal test case for the perceptions of economists, in particular their ability to anticipate crises. The book contains papers and reports, written prior to the collapse of Iceland's financial system, about the economy. What did and didn't they see coming, and why?

Download or read book OECD Economic Surveys Iceland 2009 written by OECD and published by OECD Publishing. This book was released on 2009-09-02 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book OECD Economic Surveys Iceland 2003 written by OECD and published by OECD Publishing. This book was released on 2003-05-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2003 edition of OECD's periodic review of Iceland's economy includes special features on controlling public spending and structural policy developments.

Download or read book The Icelandic Financial Crisis written by Ásgeir Jónsson and published by Springer. This book was released on 2017-02-02 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a detailed account of Iceland’s recovery from the tumultuous banking collapse that overturned its financial industry in 2008. Early chapters recount how Iceland’s central bank was unable to follow the quantitative easing policies of the time to print money and save the banks, while serving the world ́s smallest currency area. The book goes on to explore how the government exercised force majeure rights to implement emergency legislation aimed at preventing the “socialization of losses”. Later chapters investigate how, eight years later, these policies have yielded renewed growth and reinvigorated liquidity streams for the financial system. The authors argue that Iceland, long-called the ‘canary in the coal mine’ of the developed world, offers important lessons for the future. This book will be useful to all readers interested in better understanding the unique history of Iceland’s banking crisis and the phenomena of its recovery.

Download or read book The Return of Trust written by Throstur Olaf Sigurjonsson and published by Emerald Group Publishing. This book was released on 2018-08-06 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the efforts of major Icelandic economic institutions to regain the public’s trust, 10 years after the financial crisis that ruined personal savings and fostered anger towards business and politics. The studies collected here provide insights into restoring relationships between communities and institutions.

Download or read book Iceland written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-10-04 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, during 2008, the financial crisis lead Iceland’s public debt to soar from under 30 percent of GDP to more than 100 percent of GDP, and while underlying external debt came down sharply, it remains elevated at close to 300 percent of GDP. First, external sustainability is overviewed, and second, growth of Iceland’s economy has been challenged, and finally, fiscal adjustments and its macroeconomic impacts are overviewed. Traditional external debt sustainability analysis (DSA) suggests that Iceland’s external debt is sustainable but is vulnerable to depreciation shock.

Download or read book Iceland written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2015-03-13 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper examines implications of capital account liberalization in Iceland. Capital controls were critical in 2008 to avoid a more severe collapse of the Icelandic economy. Six years later, capital inflows have been liberalized, but most outflows remain restricted. Iceland has used the breathing room to reduce flow and stock vulnerabilities, strengthen institutions, and prepare for the lifting of capital controls. Simulations using the central bank’s Quarterly Macroeconomic Model (QMM) suggest that, compared with the 2008 crisis episode, the economy can better withstand the impact of an abrupt removal of capital controls. However, the outcome would be dependent on a number of factors, including resident depositor behavior.

Download or read book Meltdown Iceland written by Roger Boyes and published by Bloomsbury Publishing USA. This book was released on 2009-10-06 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic crisis that emerged in America in 2008 unleashed a veritable epidemic of ill health around the world. However it was Iceland, whose population of three hundred thousand had the world's highest GDP per capita and counted itself the happiest of countries, that caught the worst cold. It has nearly killed them. No story from the economic crisis of 2008 is more evocative than I celand's. The names may be unfamiliar-Johanesson, Bjoergolfsson, Oddsson-but their exuberance, greed, and miscalculation have many counterparts on our shores. And however traumatic the collapse of individual companies may be in the United States, in Iceland's case an entire country melted down. All the wealth accumulated in the previous decade-during which a new breed of Icelanders had dared to believe they could compete economically on an international level, during which Reykjavik became the Capital of Cool-disappeared practically overnight. Iceland's story shows how closely the world economy is interconnected: The default on subprime mortgages in the U .S. led to the collapse of Lehman Brothers, which led directly to the run on Iceland's banks, which forced local authorities in Britain to switch off the heating in their classrooms. With panache and color, Roger Boyes tells the inside story of the bankrupting of I celand: how it happened, the human dramas-from politicians to financiers to fishermen-that continue to swirl around it, and the lessons we can not ignore. Published on the first anniversary of its collapse, Meltdown Iceland is a cautionary tale for our times, an authoritative and compelling account of the financial destruction of a tiny country whose saga should resonate for us all.