Iceland : Recent Economic Developments

This paper reviews economic developments in Iceland during 1990–96. It analyzes the origins of the current economic expansion associated with a swing in the current account and in emerging inflation pressure. Three driving forces are emphasized: the positive supply shock affecting the fisheries; the expansion of the power intensive industry; and brisk increases in real wages over the past two years (1995–96). The paper highlights that the main sources of upside risks comprise the likely construction of a new aluminum smelter.
Publication date: April 1997
ISBN: 9781451819205
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Labor , Labor , Public Policy- Social Policy , Public Policy- Social Policy , wage , bargaining , negotiations , wages , wage bargaining

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