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An Icelandic "Fisher Moment"?

Irving Fisher is one of those economists that many know. At least, many economists know his work, and some of his work is better known, and acknowledged, than other. Fisher is the guy who brought us The Fisher Equation (real interest rates, nominal interest rates and inflation), the Quantity Theory of Money (PY=MV) and the International Fisher Effect (closely related to Interest Rate Parity between currencies).

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Icelandic Pension System: Only 700 billion missing

The FSA in Iceland recently posted a new set of figures regarding the pension system back home. The bottom line: only 674 billion ISK missing (i.e. the total actuarial position is negative by 674 billion). That translates into just over 39% of GDP which is an improvement from the 2009 figure when the gap was a considerably worse 50% of GDP.

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Why is it going to be a huge "swing election" in Iceland?

Reykjavik, Iceland - April 25th -- Parliamentary elections are coming up in Iceland. The elections will be held on Saturday, April 27th. Recent polls show that the likely winners are The Independence Party and the Progressive Party, they have around 25% support each. Because of the 5% election threshold only around 40 - 45% support is needed to get a majority in parliament. There are 15 parties running in the elections.

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