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Icelandic Economics

About the Icelandic Economy, the European Economic Crisis, debt and deflation. "Words ought to be a little wild..."

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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