The Dutch disease in reverse: Iceland's natural experiment

Abundant natural resources brought Iceland a systemically overvalued currency, with adverse effects on the secondary tradable sector. During 2003-2008 another national treasure, the sovereign's AAA rating, was used to attract foreign capital, elevating the real exchange rate even further. The f...

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Bibliographic Details
Main Authors: Gylfason, T, Zoega, G
Format: Working paper
Published: University of Oxford 2014