Details about Thorvaldur Gylfason

Homepage:	http://www.hi.is/~gylfason/inenglish.htm
Phone:	354-525-4533 or 4500
Postal address:	Department of Economics, University of Iceland, 101 Reykjavik, Iceland
Workplace:	Centre for Economic Policy Research (CEPR), (more information at EDIRC) CESifo, (more information at EDIRC) Hagfræðideild (Department of Economics), Háskóla Íslands (University of Iceland), (more information at EDIRC)

Access statistics for papers by Thorvaldur Gylfason.

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Working Papers

2023

1. Balancing Natural Resources and Human and Social Capital: Pathways to Economic Diversification in Mongolia
   wiiw Research Reports, The Vienna Institute for International Economic Studies, wiiw

2022

2. Different Choices, Divergent Paths: Poland and Ukraine
   wiiw Research Reports, The Vienna Institute for International Economic Studies, wiiw

2021

3. To Grow or Not to Grow: Belarus and Lithuania
   wiiw Research Reports, The Vienna Institute for International Economic Studies, wiiw
   See also Journal Article To Grow or Not to Grow: Belarus and Lithuania, Comparative Economic Studies, Palgrave Macmillan (2023) (2023)

2019

4. Individual Behavior and Collective Action: The Path to Iceland's Financial Collapse
   CESifo Working Paper Series, CESifo
   See also Chapter Individual Behavior and Collective Action: The Path to Iceland’s Financial Collapse, Springer Proceedings in Business and Economics, Springer (2020) (2020)
5. Inequality Undermines Democracy and Growth
   CESifo Working Paper Series, CESifo View citations (5)

2018

6. From Natural Resources to Human Rights
   CESifo Working Paper Series, CESifo
7. Political economy, Mr. Churchill, and natural resources
   Munich Reprints in Economics, University of Munich, Department of Economics View citations (2)
   See also Journal Article Political economy, Mr. Churchill, and natural resources, Mineral Economics, Springer (2018) View citations (3) (2018)
8. Ten Years After: Iceland's Unfinished Business
   CESifo Working Paper Series, CESifo View citations (3)

2017

9. From Double Diversification to Efficiency and Growth
   Munich Reprints in Economics, University of Munich, Department of Economics View citations (7)
   See also Journal Article From Double Diversification to Efficiency and Growth, Comparative Economic Studies, Palgrave Macmillan (2017) View citations (7) (2017)
10. The Anatomy of Constitution Making: From Denmark in 1849 to Iceland in 2017
    CESifo Working Paper Series, CESifo
11. The Dutch Disease in Reverse: Iceland's Natural Experiment
    CESifo Working Paper Series, CESifo View citations (1)

2016

12. Chain of Legitimacy: Constitution Making in Iceland
    CESifo Working Paper Series, CESifo
13. Digital Tools and the Derailment of Iceland's New Constitution
    CESifo Working Paper Series, CESifo View citations (1)
14. Efficiency, Fairness, and Social Cohesion in Europe and the United States: Incomes, Hours of Work, and Equality with an Afterthought on Iceland
    CESifo Working Paper Series, CESifo

2015

15. Around the World with Irving Fisher
    CESifo Working Paper Series, CESifo
    See also Journal Article Around the world with Irving Fisher, The North American Journal of Economics and Finance, Elsevier (2016) View citations (3) (2016)
16. Double Diversification with an Application to Iceland
    CESifo Working Paper Series, CESifo View citations (5)
17. Social Capital and Crises with an Application to Iceland
    CESifo Working Paper Series, CESifo

2014

18. Can and Should the EU's Eastern Partnership be Saved?
    CESifo Working Paper Series, CESifo View citations (2)
19. Constitution on Ice
    CESifo Working Paper Series, CESifo View citations (2)
20. Diversification, Dutch Disease, and Economic Growth: Options for Uganda
    CESifo Working Paper Series, CESifo View citations (2)
21. Iceland: How Could This Happen?
    CESifo Working Paper Series, CESifo View citations (2)
22. The Dutch Disease in Reverse: Iceland’s Natural Experiment
    OxCarre Working Papers, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford View citations (2)

2012

23. From Collapse to Constitution: The Case of Iceland
    CESifo Working Paper Series, CESifo View citations (1)
24. How Free Trade Can Help Convert the 'Arab Spring' into Permanent Peace and Democracy
    CESifo Working Paper Series, CESifo
25. Which Conflicts can the European Neighbourhood Policy Help Resolve?
    CESifo Working Paper Series, CESifo View citations (2)

2011

26. A Decade of Editing the European Economic Review
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (1)
    Also in CESifo Working Paper Series, CESifo (2011) View citations (1)
27. Commodity Price Volatility, Democracy and Economic Growth
    CESifo Working Paper Series, CESifo View citations (16)
28. Natural Resource Endowment: A Mixed Blessing?
    CESifo Working Paper Series, CESifo View citations (36)
29. Resource Rents, Democracy and Corruption: Evidence from Sub-Saharan Africa
    CESifo Working Paper Series, CESifo View citations (12)

2010

30. Growing Together: Croatia and Latvia
    CESifo Working Paper Series, CESifo View citations (2)
    See also Journal Article Growing Together: Croatia and Latvia, Comparative Economic Studies, Palgrave Macmillan (2011) View citations (4) (2011)

2008

31. Development and Growth in Mineral-Rich Countries
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (27)
32. Growing Apart? A Tale of Two Republics: Estonia and Georgia
    IMF Working Papers, International Monetary Fund View citations (2)
    Also in CESifo Working Paper Series, CESifo (2007)
    See also Journal Article Growing apart? A tale of two republics: Estonia and Georgia, European Journal of Political Economy, Elsevier (2009) View citations (12) (2009)

2007

33. The International Economics of Natural Resources and Growth
    CESifo Working Paper Series, CESifo View citations (1)

2005

34. Interview with Assar Lindbeck
    CESifo Working Paper Series, CESifo

2004

35. Monetary and Fiscal Management, Finance, and Growth
    CESifo Working Paper Series, CESifo View citations (2)
    See also Journal Article Monetary and Fiscal Management, Finance, and Growth, Empirica, Springer (2004) View citations (2) (2004)
36. Natural Resources and Economic Growth: From Dependence to Diversification
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (69)
    See also Chapter Natural Resources and Economic Growth: From Dependence to Diversification, Springer Books, Springer (2006) View citations (160) (2006)
37. Natural Resources and Economic Growth: The Role of Investment
    DEGIT Conference Papers, DEGIT, Dynamics, Economic Growth, and International Trade View citations (36)
    Also in Working Papers Central Bank of Chile, Central Bank of Chile (2002) View citations (29)
    EPRU Working Paper Series, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics (2001) View citations (50)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (55)
    See also Journal Article Natural Resources and Economic Growth: The Role of Investment, The World Economy, Wiley Blackwell (2006) View citations (285) (2006)

2003

38. Education, Social Equality and Economic Growth: A View of the Landscape
    CESifo Working Paper Series, CESifo View citations (23)
    See also Journal Article Education, Social Equality and Economic Growth: A View of the Landscape, CESifo Economic Studies, CESifo Group (2003) View citations (23) (2003)
39. Icelandic Fisheries Management: Fees versus Quotas
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)

2002

40. Inequality and Economic Growth: Do Natural Resources Matter?
    CESifo Working Paper Series, CESifo View citations (77)
    Also in Conference papers, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project (2002) View citations (6)
41. The Real Exchange Rate Always Floats
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
    See also Journal Article The Real Exchange Rate Always Floats, Australian Economic Papers, Wiley Blackwell (2002) View citations (8) (2002)

2001

42. Natural Resources and Economic Growth: What Is the Connection?
    CESifo Working Paper Series, CESifo View citations (68)
43. Nature, Power, and Growth
    CESifo Working Paper Series, CESifo View citations (66)
    See also Journal Article Nature, Power and Growth, Scottish Journal of Political Economy, Scottish Economic Society (2001) View citations (58) (2001)
44. Obsolescence
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
45. Resources, Agriculture, and Economic Growth in Economies in Transition
    Development and Comp Systems, University Library of Munich, Germany View citations (1)
    Also in CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague (2000) View citations (53)
    CESifo Working Paper Series, CESifo (2000) View citations (53)
    See also Journal Article Resources, Agriculture, and Economic Growth in Economies in Transition, Kyklos, Wiley Blackwell (2000) View citations (45) (2000)

2000

46. Natural Resources, Education, and Economic Development
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
    See also Journal Article Natural resources, education, and economic development, European Economic Review, Elsevier (2001) View citations (934) (2001)

1999

47. Natural Resources and Economic Growth: A Nordic Perspective on the Dutch Disease
    WIDER Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) View citations (9)
    Also in WIDER Working Papers, United Nations University, World Institute for Development Economic Research (UNU-WIDER) (1999) View citations (9)

1998

48. Ownership and Growth
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
49. Privatization, Efficiency and Economic Growth
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
    See also Chapter Privatization, Efficiency, and Economic Growth, Palgrave Macmillan Books, Palgrave Macmillan (2007) View citations (1) (2007)

1997

50. A Mixed Blessing: Natural Resources and Economic Growth
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (97)
51. Exports, Inflation, and Growth
    IMF Working Papers, International Monetary Fund View citations (12)
    See also Journal Article Exports, Inflation and Growth, World Development, Elsevier (1999) View citations (39) (1999)
52. Output Gain From Economic Stabilization
    Seminar Papers, Stockholm University, Institute for International Economic Studies
    Also in Working Papers, Stockholm - International Economic Studies (1996)
    See also Journal Article Output gains from economic stabilization, Journal of Development Economics, Elsevier (1998) View citations (17) (1998)

1996

53. Does Inflation Matter for Growth?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (30)
    See also Journal Article Does inflation matter for growth?, Japan and the World Economy, Elsevier (2001) View citations (75) (2001)

1995

54. The Macroeconomics of European Agriculture
    Princeton Studies in International Economics, International Economics Section, Departement of Economics Princeton University, View citations (12)
55. The Path of Output from Plan to Market
    East European Series, Institute for Advanced Studies
    Also in IMF Working Papers, International Monetary Fund (1994) View citations (2)

1994

56. Structural Adjustment, Efficiency, and Economic Growth
    CEPR Discussion Papers, C.E.P.R. Discussion Papers

1993

57. Optimal Saving, Interest Rates and Endogenous Growth
    Working Papers, Stockholm - International Economic Studies View citations (20)

1992

58. Output Gains from Economic Liberalization: A Simple Formula
    Working Papers, Stockholm - International Economic Studies View citations (1)

1991

59. Endogenous Growth and Inflation
    Working Papers, Stockholm - International Economic Studies View citations (5)
60. Iceland on the Outskirts of Europe: The Common Property Resource Problem
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
61. The Interaction of Monetary Policy and Wages
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    See also Journal Article The Interaction of Monetary Policy and Wages, Public Choice, Springer (1994) View citations (47) (1994)

1990

62. EXCHANGE RATE POLICY, INFLATION, AND UNEMPLOYMENT: THE EXPERIENCE OF THE NORDIC EFTA COUNTRIES
    Working Papers, Stockholm - International Economic Studies View citations (5)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1990) View citations (4)
63. Inflation, Growth and External Debt: A View of the Landscape
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (10)
    See also Journal Article Inflation, Growth, and External Debt: A View of the Landscape, The World Economy, Wiley Blackwell (1991) View citations (23) (1991)

1982

64. A Synthesis of Keynesian, Monetary, and Portfolio Approaches to FlexibleExchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article A Synthesis of Keynesian, Monetary, and Portfolio Approaches to Flexible Exchange Rates, Economic Journal, Royal Economic Society (1983) View citations (6) (1983)

Journal Articles

2023

1. To Grow or Not to Grow: Belarus and Lithuania
   Comparative Economic Studies, 2023, 65, (1), 137-167
   See also Working Paper To Grow or Not to Grow: Belarus and Lithuania, wiiw Research Reports (2021) (2021)

2022

2. Awakening from the Chinese Dream
   Challenge, 2022, 65, (1-2), 76-89
3. Remembering Assar Lindbeck
   Challenge, 2022, 65, (3-4), 129-138

2020

4. Africa’s Growth Prospects are Good
   Challenge, 2020, 63, (2), 98-106 View citations (1)

2019

5. From Equality, Democracy, and Public Health to Economic Prosperity
   ifo DICE Report, 2019, 17, (02), 28-33

2018

6. Political economy, Mr. Churchill, and natural resources
   Mineral Economics, 2018, 31, (1), 23-34 View citations (3)
   See also Working Paper Political economy, Mr. Churchill, and natural resources, Munich Reprints in Economics (2018) View citations (2) (2018)

2017

7. From Double Diversification to Efficiency and Growth
   Comparative Economic Studies, 2017, 59, (2), 149-168 View citations (7)
   See also Working Paper From Double Diversification to Efficiency and Growth, Munich Reprints in Economics (2017) View citations (7) (2017)
8. Negative Interest
   The American Economist, 2017, 62, (2), 139-148 View citations (2)

2016

9. Around the world with Irving Fisher
   The North American Journal of Economics and Finance, 2016, 36, (C), 232-243 View citations (3)
   See also Working Paper Around the World with Irving Fisher, CESifo Working Paper Series (2015) (2015)
10. Iceland’s New Constitution Is Not Solely a Local Concern
    Challenge, 2016, 59, (6), 480-490

2015

11. Can free trade help convert the 'Arab Spring' into permanent peace and democracy?
    Defence and Peace Economics, 2015, 26, (3), 247-270 View citations (2)
12. Free Trade Agreements, Institutions and the Exports of Eastern Partnership Countries
    Journal of Common Market Studies, 2015, 53, (6), 1214-1229 View citations (16)
13. Social Capital, Inequality, and Economic Crisis
    Challenge, 2015, 58, (4), 326-342 View citations (1)

2013

14. Resource Rents, Democracy, Corruption and Conflict: Evidence from Sub-Saharan Africa
    Journal of African Economies, 2013, 22, (4), 552-569 View citations (67)

2012

15. Constitutions: Financial Crisis Can Lead to Change
    Challenge, 2012, 55, (5), 106-122 View citations (3)

2011

16. Growing Together: Croatia and Latvia
    Comparative Economic Studies, 2011, 53, (2), 165-197 View citations (4)
    See also Working Paper Growing Together: Croatia and Latvia, CESifo Working Paper Series (2010) View citations (2) (2010)

2009

17. Growing apart? A tale of two republics: Estonia and Georgia
    European Journal of Political Economy, 2009, 25, (3), 355-370 View citations (12)
    See also Working Paper Growing Apart? A Tale of Two Republics: Estonia and Georgia, IMF Working Papers (2008) View citations (2) (2008)

2007

18. A golden rule of depreciation
    Economics Letters, 2007, 96, (3), 357-362 View citations (3)
19. Why Europe Works Less and Grows Taller
    Challenge, 2007, 50, (1), 21-39 View citations (6)

2006

20. A tribute to the founders
    European Economic Review, 2006, 50, (1), v-v
21. How Do India and China Grow?
    Challenge, 2006, 49, (1), 74-89 View citations (2)
22. Natural Resources and Economic Growth: The Role of Investment
    The World Economy, 2006, 29, (8), 1091-1115 View citations (285)
    See also Working Paper Natural Resources and Economic Growth: The Role of Investment, DEGIT Conference Papers (2004) View citations (36) (2004)

2004

23. Institutions and Economic Performance - To Grow or Not to Grow: Why Institutions Must Make a Difference
    ifo DICE Report, 2004, 2, (02), 3-9 View citations (1)
24. Monetary and Fiscal Management, Finance, and Growth
    Empirica, 2004, 31, (2), 71-91 View citations (2)
    Also in Economic Change and Restructuring, 2004, 31, (2), 71-91 (2004) View citations (2)
    See also Working Paper Monetary and Fiscal Management, Finance, and Growth, CESifo Working Paper Series (2004) View citations (2) (2004)

2003

25. Education, Social Equality and Economic Growth: A View of the Landscape
    CESifo Economic Studies, 2003, 49, (4), 557-579 View citations (23)
    See also Working Paper Education, Social Equality and Economic Growth: A View of the Landscape, CESifo Working Paper Series (2003) View citations (23) (2003)

2002

26. Mother Earth: Ally or Adversary?
    World Economics, 2002, 3, (1), 7-24 View citations (7)
27. The Real Exchange Rate Always Floats
    Australian Economic Papers, 2002, 41, (4), 369-381 View citations (8)
    See also Working Paper The Real Exchange Rate Always Floats, CEPR Discussion Papers (2002) View citations (8) (2002)

2001

28. Does inflation matter for growth?
    Japan and the World Economy, 2001, 13, (4), 405-428 View citations (75)
    See also Working Paper Does Inflation Matter for Growth?, CEPR Discussion Papers (1996) View citations (30) (1996)
29. Natural resources, education, and economic development
    European Economic Review, 2001, 45, (4-6), 847-859 View citations (934)
    See also Working Paper Natural Resources, Education, and Economic Development, CEPR Discussion Papers (2000) View citations (13) (2000)
30. Nature, Power and Growth
    Scottish Journal of Political Economy, 2001, 48, (5), 558-588 View citations (58)
    See also Working Paper Nature, Power, and Growth, CESifo Working Paper Series (2001) View citations (66) (2001)

2000

31. Islandske økonomer: Har de gjort en forskel? Et personligt synspunkt
    Nationaløkonomisk tidsskrift, 2000, 2000, (1), 349-367
32. Resources, Agriculture, and Economic Growth in Economies in Transition
    Kyklos, 2000, 53, (4), 337-361 View citations (45)
    See also Working Paper Resources, Agriculture, and Economic Growth in Economies in Transition, Development and Comp Systems (2001) View citations (1) (2001)

1999

33. A MIXED BLESSING
    Macroeconomic Dynamics, 1999, 3, (2), 204-225 View citations (246)
34. Exports, Inflation and Growth
    World Development, 1999, 27, (6), 1031-1057 View citations (39)
    See also Working Paper Exports, Inflation, and Growth, IMF Working Papers (1997) View citations (12) (1997)

1998

35. Comment on P. Dasgupta, “The Economics of Poverty in Poor Countries”
    Scandinavian Journal of Economics, 1998, 100, (1), 69-77
36. Output gains from economic stabilization
    Journal of Development Economics, 1998, 56, (1), 81-96 View citations (17)
    See also Working Paper Output Gain From Economic Stabilization, Seminar Papers (1997) (1997)

1994

37. The Interaction of Monetary Policy and Wages
    Public Choice, 1994, 79, (1-2), 33-46 View citations (47)
    See also Working Paper The Interaction of Monetary Policy and Wages, CEPR Discussion Papers (1991) View citations (1) (1991)

1991

38. Does Devaluation Make Sense in the Least Developed Countries?
    Economic Development and Cultural Change, 1991, 40, (1), 1-25 View citations (32)
39. Inflation, Growth, and External Debt: A View of the Landscape
    The World Economy, 1991, 14, (3), 279-297 View citations (23)
    See also Working Paper Inflation, Growth and External Debt: A View of the Landscape, CEPR Discussion Papers (1990) View citations (10) (1990)
40. Introduction
    European Economic Review, 1991, 35, (2-3), 209-211

1990

41. Wages, money, and exchange rates with endogenous unions and governments
    Journal of Policy Modeling, 1990, 12, (3), 469-493 View citations (6)

1987

42. Does exchange rate policy matter?
    European Economic Review, 1987, 31, (1-2), 375-381 View citations (4)

1986

43. Endogenous unions and governments: A game-theoretic approach
    European Economic Review, 1986, 30, (1), 5-26 View citations (7)

1984

44. Competing wage claims, cost inflation, and capacity utilization
    European Economic Review, 1984, 24, (1), 1-21 View citations (9)
45. Does devaluation improve the current account?
    European Economic Review, 1984, 25, (1), 37-64 View citations (69)

1983

46. A Synthesis of Keynesian, Monetary, and Portfolio Approaches to Flexible Exchange Rates
    Economic Journal, 1983, 93, (372), 820-31 View citations (6)
    See also Working Paper A Synthesis of Keynesian, Monetary, and Portfolio Approaches to FlexibleExchange Rates, NBER Working Papers (1982) (1982)
47. Does Devaluation Cause Stagflation?
    Canadian Journal of Economics, 1983, 16, (4), 641-54 View citations (86)

1982

48. THE POLITICAL ECONOMY OF COST INFLATION
    Kyklos, 1982, 35, (3), 430-455

1981

49. Interest Rates, Inflation, and the Aggregate Consumption Function
    The Review of Economics and Statistics, 1981, 63, (2), 233-45 View citations (25)

1980

50. A Synthesis of Monetary and Keynesian Approaches to Short-Run Balance-of-Payments Theory
    Economic Journal, 1980, 90, (359), 582-92 View citations (11)

1978

51. Fiscal policy, long-run stability and aggregate supply
    European Economic Review, 1978, 11, (1), 99-103

Books

1999

1. Principles of Economic Growth
   OUP Catalogue, Oxford University Press View citations (18)

Undated

2. Nordics in Global Crisis. Vulnerability and resilience
   ETLA B, The Research Institute of the Finnish Economy View citations (14)

Chapters

2023

1. Different Choices, Divergent Paths: PolandPoland and UkraineUkraine
   Springer

2020

2. Individual Behavior and Collective Action: The Path to Iceland’s Financial Collapse
   Springer
   See also Working Paper Individual Behavior and Collective Action: The Path to Iceland's Financial Collapse, CESifo (2019) (2019)

2012

3. Development and Growth in Resource-Dependent Countries: Why Social Policy Matters
   Palgrave Macmillan

2011

4. Chapter 2 Commodity Price Volatility, Democracy, and Economic Growth
   A chapter in Economic Growth and Development, 2011, pp 9-24 View citations (2)
5. Events in Iceland: Skating on Thin Ice?
   Palgrave Macmillan

2007

6. Privatization, Efficiency, and Economic Growth
   Palgrave Macmillan View citations (1)
   See also Working Paper Privatization, Efficiency and Economic Growth, C.E.P.R. Discussion Papers (1998) View citations (6) (1998)

2006

7. Natural Resources and Economic Growth: From Dependence to Diversification
   Springer View citations (160)
   See also Working Paper Natural Resources and Economic Growth: From Dependence to Diversification, C.E.P.R. Discussion Papers (2004) View citations (69) (2004)

1986

8. Comment on R. Jackman, “Counterinflationary Policy in a Unionised Economy with Nonsynchronized Wage Setting”
   Palgrave Macmillan
9. Comment on T. Hersoug, “Workers vs. Government—Who Adjusts to Whom?”
   Palgrave Macmillan

Editor

1. European Economic Review
   Elsevier