Ignazio Visco: Should the current monetary policy framework be adjusted to meet (new) post-crisis challenges? Remarks by Mr Ignazio Visco, Governor of the Bank of Italy, at the conference “The ECB and Its Watchers XVII”, debate on “Should the current monetary policy framework be adjusted to meet (new) post-crisis challenges?”, organised by the Center for Financial Studies, Frankfurt am Main, 7 April 2016.
According to Andersen and Gudmundsson (1998) Iceland has been subject to several external shocks, most related to fishing, either catches or prices. It is remarkable, however, that most shocks have been positive. From this perspective an appreciation of the Icelandic krone could have been an obvious way to distribute the increasing real income across the nation.