01705cas a2200253 a 4500 AALejournalIMF009150 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451865226 1018-5941 BD-DhAAL BD-DhAAL Honjo, Keiko. Stabilizing Inflation in Iceland / Keiko Honjo, Benjamin Hunt. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Hunt, Benjamin. IMF Working Papers; Working Paper ; No. 2006/262 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/262/001.2006.issue-262-en.xml IMF e-Library