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E-RESOURCE

Title Preludes to the Icelandic financial crisis [electronic resource] / Edited by Robert Z. Aliber, Gylfi Zoega.

Published Basingstoke : Palgrave Macmillan : [distributor] Not Avail, 2011.

Copies

Location Call No. Status
 UniM INTERNET resource    AVAILABLE
Physical description 376 p. : 110 figures, 141 31.
Notes Electronic book text.
Epublication based on: 9780230276925, 2011.
Contents Introduction-- R.Aliber Summary of Papers-- G.Zoega Privatisation and Deregulation: A Chronology of Events-- T.Olaf Sigurjonsson PART I: INTERNATIONAL ORGANIZATIONS AND THE CENTRAL BANK OF ICELAND International Monetary Fund, Article IV Consultations 2004-2008 OECD Policy Brief 2008 Central Bank of Iceland, Financial Stability Reports 2005-8 PART II: OTHER PAPERS AND REPORTS Fitch Report, February 2006 Iceland's Geyser Crisis-- L.Christiansen Financial Stability in Iceland-- F.Mishkin & T.T.Herbertsson The Internationalization of Iceland's Financial Sector-- F.M.Baldursson & R.Portes The Collapse of Iceland's Banks: the Predictable End of a Non-viable Business Model-- W.Buiter & A.Sibert Iceland on the Brink?-- D.Gros Events in Iceland: Skating on Thin Ice-- T.Gylfason A Spending Spree-- G.Zoega Monetary Turbulence and the Icelandic Economy-- R.Z.Aliber PART III: LESSONS FOR OTHER COUNTRIES Overbanked and Undersized: Lessons from Iceland-- A.Sibert.
File type Document
Summary 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? Iceland became one of the symbols of the fourth wave of the financial crisis, since the end of the first decade of the twenty-first century. Between 2003 and 2008, the market value of the stock of Iceland's biggest companies increased by 700 per cent, and the assets of its three banks multiplied eightfold to eight times the country's GDP. When the bubble burst, it helped bring the world economy to its knees. This volume brings together several papers written by professional economists before the crash, warning of the dangers of the bubble economy that was being created. The papers discuss the imbalances created by an inflow of foreign capital, the hazards of a rapidly expanding banking system, and the perils that all banks face in a bubble economy. The chapters also provide a case study of the economics profession before the collapse of the international financial system. What did and didn't they see coming, and why? An introduction and conclusion contextualize the articles and draw out some important lessons. This book is essential reading for all interested in macroeconomics, economic policy and international finance, as well as anyone seeking to grasp the causes of the deepest global recession since the Great Depression.
System notes PDF.
History notes ROBERT ALIBER is Professor Emeritus at the Booth Graduate School of Business, University of Chicago, USA. His books include The New International Money Game, (Palgrave Macmillan) now in its seventh edition and a book on personal finance, Your Money and Your Life (forthcoming in 2010). He will also be bringing out an updated edition of Charles Kindleberger's Manias, Panics, and Crashes. GLYFI ZOEGA is Professor of Economics at the University of Iceland. He has published numerous articles in macroeconomics and labour economics, and these have appeared in such journals as the American Economic Review, Brookings Papers on Economic Activity and the Journal of Applied Econometrics.
Other author Aliber, Robert Z., 1930-
Zoega, Gylfi.
Subject Financial crises -- Iceland.
Economic & financial crises & disasters -- Iceland.
Banking -- Iceland.
Economics.
Iceland -- Economic policy.
ISBN 9780230307148 : £84.00
0230307140 : £84.00