OECD economic surveys : Iceland 1998-1999 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: Iceland

Language:

English

Subjects (All):

Economic history.

Iceland--Economic conditions.

Iceland.

Physical Description:

1 online resource (163 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1999]

Language Note:

English

Summary:

Assessment and recommendations I. Recent trends and prospects -The economy has passed the limits of non-inflationary growth -The near term outlook II. Macroeconomic policies -Monetary management -The fiscal stance III. Structural policy developments -The fish industry -Progress in liberalising the economy -Other structural initiatives -Scope for further action IV. Copying with ageing: the Icelandic model -The demographic problem -The pension system, retirement income an the labour market -Care for the elderly -The impact of ageing on public expenditure on economic growth -Scope for further action Bibliography Annexes -I. A chronology of fisheries management -II. Pension wealth accrual simulations -III. Calendar of main economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent trends and prospects

The economy has passed the limits of non-inflationary growth

Figure 1. Aggregate economic indicators

Table 1. Output and demand

Table 2. Balance sheet of households

Figure 2. Growth of the business capital stock and the business investment share

Table 3. Recommended fish catch and landings

Table 4. Productivity and economic growth

Figure 3. Private sector wages

Figure 4. Consumer price inflation

Figure 5. Price developments of imported consumer goods

The near term outlook

Table 5. Short-term projections

Figure 6. The value-added deflator and unit labour costs in the business sector

Figure 7. Vulnerability indicators

Figure 8. Real exchange rate and trend

Figure 9. Net saving and investment flows

II. Macroeconomic policies

Monetary management

Figure 10. Movements in nominal exchange rate and short-term interest rates

Table 6. Capital account of the balance of payments

Table 7. Foreign reserves of the Central Bank

Figure 11. Interest rate differentials

Figure 12. Two measures of the nominal effective exchange rate

Figure 13. Interest rate developments

Box 1. Changes in monetary policy instruments

Figure 14. Principal issuers in the icelandic fixed interest market

Figure 15. Growth of money supply and bank lending to the private sector

Table 8. Money and credit growth

Figure 16. Evolution of bank credit in four nordic countries during financial deregulation

Figure 17. Foreign exchange reserves relative to international bank borrowing

Figure 18. Trade openness and population size

The fiscal stance

Table 9. Central government revenue and budget balance

Table 10. Central government expenditure

Table 11. Local government finances.

Table 12. General government fiscal situation

Figure 19. Fiscal indicators

III. Structural policy developments

The fish industry

Box 2. Facts on the Icelandic fisheries

Figure 20. Icelandic cod

Figure 21. Management of fish stocks

Figure 22. Factor inputs and productivity in the fishing industry

Figure 23. Price of cod and annual quota rights

Table 13. Regional distribution of the fisheries industry

Box 3. The economic effects of the distribution of fishing quotas

Progress in liberalising the economy

Figure 24. Support to agriculture

Figure 25. The Icelandic stock market

Table 14. Iceland's privatisation programme

Other structural initiatives

Figure 26. Software exports

Table 15. Indicators of Internet penetration

Figure 27. Implementation rate of EU and EEA directives

Scope for further action

Box 4. A summary of new structural recommendations

Box 5. Status review of selected past OECD structural recommendations

IV. Coping with ageing: the Icelandic model

The demographic problem

Figure 28. Population structure: Iceland and OECD area

Table 16. Fertility rates for selected OECD countries

Table 17. Life expectancy in selected OECD countries

The pension system, retirement income and the labour market

Figure 29. Total and old age dependency ratios

Table 18. Activity rates by age groups, 1992-1997

Box 6. The State age-related pension system

Box 7. Key features in the Occupational Pension system

Box 8. Civil service pensions

Figure 30. State pensions relative to unskilled workers earnings

Table 19. Replacement rates: by family type, income and occupational pension rights

Table 20. Income sources of the elderly by age group and household type

Table 21. Wealth of elderly by age group and household type.

Table 22. Extent of poverty in selected OECD countries

Table 23. Average disposable income by age group

Table 24. The labour-market situation of older workers

Figure 31. Variation of pension wealth with age

Care for the elderly

Table 25. Accommodation of elderly people by degree of care

Table 26. Geographic distribution of the population and facilities for care of the elderly

The impact of ageing on public expenditure and economic growth

Table 27. Age-related expenditure in OECD countries

Figure 32. Projections of government spending up to 2050

Table 28. Factors underlying the long-run growth of consumption

Box 9. Maintaining prosperity in an ageing society: recommendations for Iceland

Figure 33. Marginal tax-transfer rate

Notes

Bibliography

Annex I. A chronology of fisheries management

Annex II. Pension wealth accrual simulations

Annex III. Calendar of main economic events

Statistical annex and structural indicators

Table A. Supply and use of resources

Table B. Supply and use of resources

Table C. Production and employment

Table D. Gross fixed asset formation and national wealth

Table E. Gross fixed asset formation and national wealth

Table F. Central government and social security income and expenditure

Table G. Fish catch, wages and prices

Table H. Foreign trade, total and by area

Table I. Foreign trade by commodity group

Table J. Money and credit

Table K. Public sector

Table L. Labour market

List of Boxes

Box 5. Status review of selected past OECD structural recommendations.

Box 6. The State age-related pension system

List of Tables

Table 11. Local government finances

Table 12. General government fiscal situation

Table 21. Wealth of elderly by age group and household type

Table 22. Extent of poverty in selected OECD countries

List of Figures

Figure 1. Aggregate economic indicators.

Figure 2. Growth of the business capital stock and the business investment share

Figure 33. Marginal tax-transfer rate.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-16861-3

OCLC:

1132391784