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Spinning out of control, Iceland in crisis

Þórólfur Matthíasson

Nordic Journal of Political Economy2008article
ABDC C
Weight
0.61

What the paper says

Within few days in October 2008 some 85% of the Icelandic bank-sector collapsed, as did the Icelandic krona. Many non-financial firms declared bankruptcy or decimated their workforce. Inflation skyrocketed as did unemployment, the other ingredient in the misery index. This paper records how well-intended policies aimed at making life easier for house-owners, people living in de-populating areas, and taxpayers turned into misfortune. The mixture of lax fiscal policy, tight monetary policy, inflation targeting, and running the smallest floating currency in the world with inadequate foreign reserves proved to be dangerous.

23 citations

Cite this paper

@article{þórólfur2008,
  title        = {{Spinning out of control, Iceland in crisis}},
  author       = {Þórólfur Matthíasson},
  journal      = {Nordic Journal of Political Economy},
  year         = {2008},
}

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Spinning out of control, Iceland in crisis

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Evidence weight

0.61

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.77 × 0.4 = 0.31
M · momentum0.52 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.