01843cas a2200241 a 4500 AALejournalIMF013831 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484329979 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Iceland : Selected Issues. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (24 pages) IMF Staff Country Reports <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 Selected Issues paper analyses the impact of a potential rebalancing of Icelandic residents' investment portfolios as capital controls are lifted. It applies optimal portfolio theory to calculate the potential rebalancing toward foreign assets, and then makes an estimate of the cumulative impact on the balance of payments and international reserves. Conclusions for the authorities' capital account liberalization strategy are drawn. This paper also measures the potential budgetary savings from improving the efficiency of public spending in health and education in Iceland. A Data Envelopment Analysis is used to estimate an efficiency frontier by comparing across Organization for Economic Cooperation and Development countries the transformation rates of public spending into valuable social outcomes. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/257 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/257/002.2013.issue-257-en.xml IMF e-Library