Crisis and recovery: The Iceland question
Jul 2nd 2012, 18:21 by R.A. | WASHINGTON CORRECTION: The perils of the internet age. The motivation for this post was a debate playing out over twitter this morning , between Tyler Cowen , Matt Yglesias , and Matt O'Brien , among others. I grabbed the link to the CFR post mentioned below from this tweet and in my haste to comment neglected to note that it was published in 2010 . Mea culpa. Mr Cowen's initial remarks were probably prompted by this new CFR post, which updates the one discussed below. Here are the key charts, updated: Interestingly, updating the data doesn't much change the story. From the crisis trough in output, Iceland has performed about as well as the Baltic economies and significantly better than Ireland. The key point in the post below stands; the Baltic economies remain substantially poorer than Iceland and most euro-zone members and should therefore be expected to have a much faster rate of underlying growth thanks to the potential for catch