Meginmál

Symposium on the preconditions for balanced growth and sustainability in the Icelandic economy

Symposium on the preconditions for balanced growth and sustainability in the Icelandic economy

NOTE: This article is from 11. November 2008 and is therefore more than 5 years old.

A symposium entitled “Balanced growth solution to the Central Bank of Iceland's Quarterly Macroeconomic Model (QMM) and long-term equilibrium values for key economic relationships” will be held on Tuesday, November 11, 2008, in Sölvhóll, the Central Bank of Iceland conference room.

The symposium will be led by Dr. Ásgeir Daníelsson, economist with the Central Bank of Iceland Department of Economics, and will begin at 15:00.

Summary:

The symposium will focus on the indicators of the preconditions for balanced growth – and thus for sustainability in the Icelandic economy – that can be derived from the Central Bank's Quarterly Macroeconomic Model (QMM). An attempt is made to estimate values for key economic relationships such as real exchange rate, real interest rate, capital output ratio, and a wage ratio that is compatible with balanced growth. These values are then compared with historical data.