Preludes to the Icelandic Financial Crisis

FRIDRIK M. BALDURSSON Professor, School of Business, Reykjavik University, IcelandWILLEM BUITER Chief Economist, Citigroup, USALARS CHRISTIANSEN Senior Analyst, Danske Bank, DenmarkDANIEL GROS Director, Centre for European Policy Studies, Brussels, BelgiumTHORVALDUR GYLFASON Professor of Economics, University of Iceland, IcelandTRYGGVI T. HERBERTSSON Member of Icelandic Parliament and a former Professor of Economics at the University of Iceland, IcelandFREDERIC MISHKIN Alfred Lerner Professor of Banking and Financial Institutions, Graduate School of Business, Columbia University, USARICHARD PORTES Professor of Economics, London Business School, UKANNE SIBERT Professor of Economics, Department of Economics, Mathematics and Statistics, Birkbeck College, University of London, UKTHROSTUR O SIGURJONSSON Assistant Professor, School of Business, Reykjavik University, IcelandGYLFI ZOEGA Professor of Economics, Department of Economics, University of Iceland, IcelandCARSTEN VALGREEN Chief Economist, Danske Bank, Denmark

• Introduction; R.Aliber Summary of Papers; G.Zoega Privatisation and Deregulation: A Chronology of Events; T.Olaf Sigurjonsson PART I: INTERNATIONAL ORGANIZATIONS AND THE CENTRAL BANK OF ICELAND International Monetary Fund, Article IV Consultations 2004-2008 OECD Policy Brief 2008 Central Bank of Iceland, Financial Stability Reports 2005-8 PART II: OTHER PAPERS AND REPORTS Fitch Report, February 2006 Iceland's Geyser Crisis; L.Christiansen Financial Stability in Iceland; F.Mishkin  & T.T.Herbertsson The Internationalization of Iceland's Financial Sector; F.M.Baldursson  & R.Portes The Collapse of Iceland's Banks: the Predictable End of a Non-viable Business Model; W.Buiter  & A.Sibert Iceland on the Brink?; D.Gros Events in Iceland: Skating on Thin Ice; T.Gylfason A Spending Spree; G.Zoega Monetary Turbulence and the Icelandic Economy; R.Z.Aliber PART III: LESSONS FOR OTHER COUNTRIES Overbanked and Undersized: Lessons from Iceland; A.Sibert