TY - BOOK ID - 11265970 TI - Stabilizing Inflation in Iceland AU - Honjo, Keiko. AU - Hunt, Benjamin. PY - 2006 SN - 1451865228 1462324568 1451909756 9786613827173 1452729956 1283514729 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Electronic books. -- local. KW - Finance -- Iceland. KW - Inflation (Finance) -- Iceland. KW - Finance KW - Business & Economics KW - Financial Management & Planning KW - Inflation (Finance) KW - Funding KW - Funds KW - Economics KW - Currency question KW - Natural rate of unemployment KW - Inflation KW - Macroeconomics KW - Money and Monetary Policy KW - Public Finance KW - Production and Operations Management KW - Price Level KW - Deflation KW - Fiscal Policy KW - Monetary Policy KW - Macroeconomics: Production KW - Monetary economics KW - Fiscal policy KW - Inflation targeting KW - Fiscal stance KW - Output gap KW - Prices KW - Monetary policy KW - Production KW - Economic theory KW - Iceland UR - https://www.unicat.be/uniCat?func=search&query=sysid:11265970 AB - This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open economy such as Iceland. Estimated macroeconomic models of Canada, Iceland, New Zealand, the United Kingdom, and the United States are used to derive efficient monetary policy frontiers that trace out the locus of the lowest combinations of inflation and output variability that are achievable under a range of alternative monetary policy rules. These frontiers illustrate that inflation stabilization is more challenging in Iceland than in other industrial countries primarily because of the relative magnitudes of the economic shocks. ER -