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«CURRICULUM VITAE Thorvaldur Gylfason General information Current position Professor of Economics University of Iceland Other affiliations Research ...»

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August 2015.


Thorvaldur Gylfason

General information

Current position

Professor of Economics

University of Iceland

Other affiliations

Research Associate

CESifo, University of Munich

Research Associate

Center for Japan-U.S. Business and Economic Studies, New York University

Work address

Department of Economics

University of Iceland

101 Reykjavík, Iceland

Tel: 354-525-4500

Fax: 354-525-5140

E-mail: gylfason@hi.is

Home address Lindargata 33 101 Reykjavík, Iceland Tel: 354-552-7092.

Mobile: 354-862-8351 Date of birth: 18 July 1951 Marital status: Married, two grown foster-children, four grand-children Nationality: Icelandic Leisure: Music, composition Website: www.hi.is/~gylfason Thorvaldur Gylfason 2 University education B.A. (Econ.) Honours, University of Manchester, England M.A. in economics, Princeton University Major fields: International economics, monetary economics, and econometrics Ph.D. in economics, Princeton University

Dissertation: Inflation, Unemployment, and Economic Growth:

Two Essays Employment record Student years Research Assistant, Central Bank of Iceland, Economics Department 1971-72 (summers) Economist, National Economic Institute, Reykjavík, Iceland 1973-74 (summers) Assistant in Instruction, Department of Economics, Princeton 1975-76 University Professional career Economist, International Monetary Fund (IMF), Washington, D.C.

1976-81 Policy work assignments included consultation and negotiating missions to Africa, Asia, the Middle East, and South America Research Fellow, Institute for International Economic Studies, 1978-79 University of Stockholm (on leave from IMF) Senior Research Fellow, Institute for International Economic Studies, 1981-96 University of Stockholm Professor of Economics, University of Iceland 1983Visiting Professor of Public and International Affairs, Princeton 1986-88 University (spring semesters) Research Associate, SNS—Center for Business and Policy Studies, 1996-2004 Stockholm Research Professor of Economics, University of Iceland 1998-2005 Elected to Iceland’s Constitutional Assembly Thorvaldur Gylfason 3 Appointed by Parliament to Iceland’s Constitutional Council to draft a new constitution for Iceland, constitutional bill delivered to Parliament 29 July 2011 Other professional activity Instructor, International Graduate School, University of Stockholm 1982-83

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Organizer, instructor, and adviser in training courses and seminars for 1992-2004 public officials in Latvia, Albania, Romania, and Estonia under the auspices of EFTA (European Free Trade Association) Council Member (elected position), European Economic Association 1992-96

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Visiting Professor, Stockholm School of Economics (March) 2010, 2012 Chairman, Alliance for a New Constitution, an Icelandic NGO 2012-2014 Chairman, Democracy Watch, a political party contesting the April 2013 parliamentary election in Iceland (February-October) Publications Books in English

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Understanding the Market Economy (with Arne Jon Isachsen and Carl B.


Hamilton), Oxford University Press, Oxford, 1992, 243 pages.

The Macroeconomics of European Agriculture, Princeton Studies in 3.

International Finance, No. 78, International Finance Section, Princeton University, Princeton, N. J., 1995, 51 pages. Reprint No. 537, Institute for International Economic Studies, University of Stockholm, 1995.

The Swedish Model under Stress: A View from the Stands (with Torben 4.

Andersen, Seppo Honkapohja, Arne Jon Isachsen, and John Williamson), SNS Press, Stockholm, 1997, 157 pages.

Understanding Economic Growth, SNS Förlag, Stockholm, 1998, 239 pages.


Principles of Economic Growth, Oxford University Press, Oxford, 1999, 194 6.


Nordics in Global Crisis: Vulnerability and Resilience (with Bengt 7.

Holmström, Sixten Korkman, Hans Tson Söderström, and Vesa Vihriälä), The Research Institute of the Finnish Economy (ETLA), 2010, 264 pages.

Edited books in English

1. Beyond the Curse: Policies to Harness the Power of Natural Resources, edited with Rabah Arezki and Amadou Sy, International Monetary Fund, Washington, DC, 2011.

Books in Icelandic

1. Public Interest (“Almannahagur”), collection of 75 essays on economic theory and policy, Icelandic Literary Society (est. 1816), Reykjavík, 1990, 458 pages.

Political Economy and Culture (“Hagfræði, stjórnmál og menning”), 2.

collection of 30 essays on economic theory and policy, Icelandic Literary Society, Reykjavík, 1991, 203 pages.

Understanding the Market Economy (“Markaðsbúskapur”, with Arne Jon 3.

Isachsen and Carl B. Hamilton), Language and Culture, Reykjavík, 1994, 286 pages.

Efficiency and Fairness (“Hagkvæmni og réttlæti”), collection of 32 essays on 4.

economic theory and policy, Icelandic Literary Society, Reykjavík, 1993, 225 pages.

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To Build a Nation (”Að byggja land”), a written version of three television 6.

programs on some aspects of the doctrinal history of economic policy in Iceland since the 1840s, Iceland University Press, Reykjavík, 1998, 78 pages.

Also available on videotape.

Trade for Gain (“Viðskiptin efla alla dáð”), collection of 36 essays on 7.

economics and related subjects, Heimskringla, Language and Culture, Reykjavík, 1999, 359 pages.

The Future is Another Country (“Framtíðin er annað land”), collection of 42 8.

essays on economic theory and policy, with introduction, Iceland University Press, Reykjavík, 2001, 368 pages.

Two Worlds (“Tveir heimar”), collection of 168 essays, Iceland University 9.

Press, Reykjavík, 2001, 728 pages.

Clean Slate (“Hreint borð”), collection of 69 essays on constitutional issues, 10.

published in collaboration with the Constitutional Society, Gutti, Reykjavík, 2012. (Also available as an ebook in a longer version with 83 essays at www.skinna.is) Books in Swedish Understanding the Market Economy (“Omställning till marknad”, with Arne 1.

Jon Isachsen and Carl B. Hamilton), SNS Förlag, Stockholm, 1994, 267 pages.

The Swedish Model under Stress: A View from the Stands (“I otakt med 2.

omvärlden? Svensk ekonomi i ett internationellt perspektiv”, with Torben Andersen, Seppo Honkapohja, Arne J. Isachsen, and John Williamson), SNS Förlag, Stockholm, 1997, 160 pages.

Books in other languages

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Journal articles in English

1. Fiscal policy, long-run stability, and aggregate supply, European Economic Review, May 1978.

2. A synthesis of monetary and Keynesian approaches to short-run balance-ofpayments theory (with Jacob A. Frenkel and John F. Helliwell), Economic Journal, September 1980.

3. Interest rates, inflation, and the aggregate consumption function, Review of Economics and Statistics, May 1981.

4. The political economy of cost inflation (with Assar Lindbeck), Kyklos, September 1982.

5. Does devaluation cause stagflation? (with Michael Schmid), Canadian Journal of Economics, November 1983.

6. A synthesis of Keynesian, monetary, and portfolio approaches to flexible exchange rates (with John F. Helliwell), Economic Journal, December 1983.

7. Competing wage claims, cost inflation, and capacity utilization (with Assar Lindbeck), European Economic Review, February 1984.

8. Union rivalry and wages: An oligopolistic approach (with Assar Lindbeck), Economica, May 1984.

9. Does devaluation improve the current account? (with Ole Risager), European Economic Review, June 1984.

10. Does devaluation make sense? (also in Swedish), Skandinaviska Enskilda Banken Quarterly Review, No. 2, 1986.

11. Endogenous unions and governments: A game-theoretic approach (with Assar Lindbeck), European Economic Review, February 1986.

12. Does exchange rate policy matter? European Economic Review, February/March 1987.

13. Inflation and economic stagnation: A coincidence?, Skandinaviska Enskilda Banken Quarterly Review, No. 2, 1989.

14. Wages, money, and exchange rates with endogenous unions and governments (with Assar Lindbeck), Journal of Policy Modeling, Fall 1990.

15. Iceland on the outskirts of Europe, EFTA Bulletin 2, European Free Trade Association, Geneva, 1991.

16. Inflation, growth, and external debt: A view of the landscape, World Economy, September 1991.

17. Does devaluation make sense in the least developed countries? (with Marian Radetzki), Economic Development and Cultural Change, October 1991.

18. Privatization in Central and Eastern Europe (with Arne Jon Isachsen and Carl B. Hamilton), Skandinaviska Enskilda Banken Quarterly Review, No. 1/2, 1992.

19. Understanding the market economy--Aspects of planning (with Arne Jon Isachsen and Carl B. Hamilton), Journal of World Trade, October 1992.

Thorvaldur Gylfason 8

20. The pros and cons of fishing fees: The case of Iceland (also in French, German, and Norwegian), EFTA Bulletin 3/4, European Free Trade Association, Geneva, 1992.

21. Optimal saving, interest rates, and endogenous growth, Scandinavian Journal of Economics, December 1993.

22. The interaction of monetary policy and wages (with Assar Lindbeck), Public Choice, April 1994.

23. Reforms in Eastern Europe, Journal of World Trade, June 1995.

24. Prospects for liberalization of trade in agriculture, Journal of World Trade, February 1998.

25. Output gains from economic stabilization, Journal of Development Economics, June 1998.

26. Unemployment, efficiency, and economic growth: The case of Finland, Ekonomiska samfundets tidskrift, 3, 1998.

27. Exports, inflation, and economic growth, World Development, June 1999.

28. A mixed blessing: Natural resources and economic growth (with Tryggvi Thor Herbertsson and Gylfi Zoega), Macroeconomic Dynamics, June 1999.

29. Growing apart, Journal of World Trade, August 2000.

30. Resources, agriculture, and economic growth in economies in transition, Kyklos, 4, 2000.

31. Fix or flex? Alternative exchange rate regimes in an era of global capital mobility, North American Journal of Economics and Finance, December 2000.

32. Natural resources, education, and economic development, European Economic Review, May 2001.

33. Ownership and growth (with Tryggvi Thor Herbertsson and Gylfi Zoega), World Bank Economic Review, October 2001.

34. Nature, power, and growth, Scottish Journal of Political Economy, November 2001.

35. Does inflation matter for growth? (with Tryggvi Thor Herbertsson), Japan and the World Economy, December 2001.

36. Mother Earth: Ally or Adversary?, World Economics, January-March 2002.

37. The real exchange rate always floats, Australian Economic Papers, December 2002.

38. Education, social equality, and economic growth: A view of the landscape (with Gylfi Zoega), CESifo Economic Studies, December 2003.

39. Monetary and fiscal management, finance, and growth, Empirica 4, 2004.

40. To grow or not to grow: Why institutions must make a difference, CESifo DICE Report, 2004.

41. To grow or not to grow: Is Africa different? No, MEFMI Forum, 2004.

Thorvaldur Gylfason 9

42. Interview with Assar Lindbeck, Macroecoonomic Dynamics, December 2005.

43. How do India and China grow?, Challenge, January-February 2006.

44. Natural resources and economic growth: The role of investment (with Gylfi Zoega), The World Economy, August 2006.

45. Why Europe works less and grows taller, Challenge, January-February 2007.

46. The international economics of natural resources and growth, Minerals and Energy, June 2007.

47. A golden rule of depreciation, (with Gylfi Zoega), Economics Letters, September 2007.

48. Growing apart? A tale of two republics: Estonia and Georgia (with Eduard Hochreiter), European Journal of Political Economy, June 2009.

49. Growing together: Croatia and Latvia (with Eduard Hochreiter), Comparative Economic Studies, June 2011.

50. Constitutions: Financial crisis can lead to change, Challenge, SeptemberOctober 2012.

51. Resource rents, democracy and corruption: Evidence from sub-Saharan Africa (with Rabah Arezki), Journal of African Economies, January 2013.

52. How free trade can help convert the ’Arab Spring’ into permanent peace and democracy (with Inmaculada Martínez-Zarzoso and Per Magnus Wijkman), Defence and Peace Economics, March 2014.

53. Free Trade Agreements, Institutions and the Exports of Eastern Partnership Countries (with Inmaculada Martínez-Zarzoso and Per Magnus Wijkman), Journal of Common Market Studies, June 2015.

54. Social capital, inequality, and economic crisis, Challenge, July-August 2015.

Chapters in books in English

1. Exchange rate policy, inflation, and unemployment: The Nordic EFTA countries, Ch. 4 in Victor Argy and Paul de Grauwe (eds.), Choosing an Exchange Rate Regime: The Challenge for Smaller Industrial Countries, International Monetary Fund, 1990.

2. Iceland on the outskirts of Europe: The common property resource problem, in EFTA Countries in a Changing Europe, European Free Trade Association, Geneva, 1991.

3. Output gains from economic liberalization: A simple formula, Ch. 4 in The Political Economy of the Transition Process in Eastern Europe, ed. Laszlo Somogyi, Edward Elgar, London, 1993.

4. Optimal saving, interest rates, and endogenous growth, in Endogenous Growth, ed. Torben M. Andersen and Karl O. Moene, Blackwell, Oxford, 1993.

5. Integration between East and West: How deep? How soon?, in 35 Years of Free Trade in Europe: Messages for the Future, ed. Emil Ems, European Free Trade Association, Geneva, 1995.

Thorvaldur Gylfason 10

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