Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/185516
Authors: 
Gylfason, Thorvaldur
Year of Publication: 
2018
Series/Report no.: 
CESifo Working Paper 7318
Abstract: 
This study discusses the economic, political, and judicial aftermath of Iceland´s financial collapse in 2008. It considers lessons learned, or not learned, with emphasis on unsettled issues concerning the distribution of incomes and wealth, banking, and politics. The study makes three main points. First, the measurement of income flows and living standards needs to be adjusted in two respects. Second, since the crisis, Ireland has made a significantly stronger recovery than Iceland in terms of per capita income. Third, Iceland´s economic recovery from the crisis is marred by a visible deterioration of various components of the country´s social capital.
Subjects: 
financial crisis
social capital
Iceland
JEL: 
G01
Document Type: 
Working Paper

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