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Adapting Budgetmaking to Inflation, Icelandic Municipalities in a Volatile Economic

Adapting Budgetmaking to Inflation, Icelandic Municipalities in a Volatile Economic


Title: Adapting Budgetmaking to Inflation, Icelandic Municipalities in a Volatile Economic
Author: Matthiasson, Thorolfur   orcid.org/0000-0003-3312-386X
Date: 2008
Language: English
Scope: 71-82
University/Institute: Háskóli Íslands
University of Iceland
School: Félagsvísindasvið (HÍ)
School of Social Sciences (UI)
Department: Hagfræðideild (HÍ)
Faculty of Economics (UI)
Series: Tímarit um viðskipti og efnahagsmál.;6(2)
ISSN: 1670-4444
1670-4851 (e-ISSN)
DOI: 10.24122/tve.a.2008.6.2.8
Subject: Municipalities budgeting; Inflation budgeting; Expectation formation.; Verðbólga; Fjárhagsáætlanir; Sveitarfélög
URI: https://hdl.handle.net/20.500.11815/204

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Citation:

Þórólfur Matthíasson. (2008), Adapting Budgetmaking to Inflation, Icelandic Municipalities in a Volatile Economic. Tímarit um viðskipti og efnahagsmál, 6(2), 71-82. doi:10.24122/tve.a.2008.6.2.8

Abstract:

Inflation was a growing problem during the 1960’s and the 1970’s in Iceland. Inflation represents a problem for any entity that tries to write up a budget, whether an individual, a company or a governmental entity. Many governmental entities do not have right to spend money unless what has been prescribed in the budget. The purpose of this paper is to map out how inflation affected different parts of municipality budgets in Iceland during the 1960’s and the 1970’s. Furthermore, to look at how well budget makers in the Icelandic municipality sector managed the task of forecasting inflation during the high inflation period of the 1970s.

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Creative Commons Attribution 4.0 License.

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