Statistical, analytical and legal information resources on Iceland, in English.

Financial indexation

Domestic resources:

The Homes Association - About financial indexation and implications for the Icelandic mortgage market

EFTA Surveillance Authority, Case No 79870 - Complaint by the Homes Association concerning consumer loans in Iceland

Ministry of economic affairs - Act No. 38/2001 on interest and price indexation

Statistics Iceland - Indices for indexation from 1979

Larissa Kyzer - Shadow Boxing With The Banks [PDF] The Reykjavík Grapevine

Ólafur Margeirsson, PhD.:

The Great Icelandic Jubilee [PDF] The Reykjavík Grapevine

Icelandic Indexation

Icelandic Indexation, Part II

Jacky Mallett, PhD.:

Index linked loans (presentation)

Robbery by Math [PDF] - The Reykjavík Grapevine

An examination of the effect on the Icelandic Banking System of Verðtryggð Lán (Indexed-Linked Loans)

Indexation and consumer protection:

Maria Elvira Méndez-Pinedo. Overview of European consumer credit law - Protection of consumers with foreign currency mortgages in the aftermath of the Icelandic crisis. Reasearch in Social Sciences, University of Iceland 2010.

European University Institute. Domurath, Comparato, Micklitz (editors). The over-indebtedness of European consumers : a view from six countries. Iceland (chapter by M. Elvira Méndez Pinedo and Irina Domurath).

M. Elvira Mendez-Pinedo. The cost of credit in Iceland under european judicial review: may legality and transparency justify unfairness? Swedish journal of European law nr. 2/2014.*

M. Elvira Mendez-Pinedo. Indexation of consumer and mortgage credit in Iceland in 2014. A Critical battle between legality, fairness and legitimacy. International Journal of Finance & Banking Studies, Vol 3, No 04 (2014).

M. Elvira Mendez-Pinedo. Iceland: Indexation of Credit and the Fairness Test in European Consumer Law. Journal of Consumer Policy, December 2014.

Maria Elvira Méndez Pinedo. Iceland’s New Plan for Debt Relief: Jubilee or Waiting for Godot? European Journal of Risk Regulation, Issue 4, 2014.*

M. Elvira Mendez-Pinedo, Iceland, the EFTA Court and the indexation of credit to inflation: operating in nature ex-post but need to calculate and disclose ex-ante. A law of contradiction? Juridical Tribune, Volume 6, Special Issue, October 2016.

* Note: The articles listed above from subscription based journals can be made available upon petition to the author, for research or private consultation only. For more information please contact us.

International resources:

Wikipedia - Indexation

Wikipedia - Inflation-indexed bond

Wikipedia - Inflation derivative

FRB Richmond, Economic Review 1974 - The Concept of Indexation in the History of Economic Thought

FRB Richmond, Economic Review 1974 - Indexation as a Response to Inflation: An Examination

Werner Baer, Paul Beckerman - Indexing in Brazil

Paul Beckerman - Index-linked financial assets and the Brazilian "inflation feedback" mechanism

Werner Baer, Paul Beckerman - The trouble with index-linking: Reflections on the recent Brazilian Experience

Larry Samuelson - Inflation, indexing and economic development

NBER wp no. 670, Stanley Fischer - Indexing and inflation

NBER wp no. 10183, Robert J. Shiller - The Invention of Inflation-Indexed Bonds in Early America

OECD Economic Surveys: Iceland 1981-1982 - Annex II Indexation of Financial Assets

IMF wp no. 90/20, Peter K. Cornelius, Duncan M. Ripley - Monetary Indexation and Revenues from Money Creation: The Case of Iceland [PDF]

Also published in IMF Staff Papers Vol 37 No 4 (December 1990)

IMF Staff Country Report no. 95/47 - Iceland, Recent Economic Developments [PDF]

Appendix IV Financial Indexation and Interest Rates in Iceland

IMF wp no. 97/12, Robert T. Price - The Rationale and Design of Inflation-Indexed Bonds [PDF]

Marco Bonomo, René Garcia - Indexation, staggering and disinflation

Banco Central de Chile series vol. 2 - Indexation, Inflation and Monetary Policy

Banco Central de Chile wp no. 261 - Dedollarization, Indexation and Nominalization: The Chilean Experience

UK Debt Management Office - Research papers on index-linked debt

United States Treasury - Inflation-Protected Securities (TIPS)

Statistics Iceland (StatIce)

National statistics about almost everything in Iceland, largely available in english as well.

English section of website:


Publications overview

Statistics series

Satistics database

Selected publications:

Iceland in figures 2014

Statistical Yearbook of Iceland 2014

Hagskinna, historical statistics handbook

Wages, income and labour market

Prices and consumption

Statistics: Consumer Price index

Statistics: Courts

Household finances:

Statistics: Household finances

Financial status of households 2004-2009

Household finances 2004-2010

Household finances 2011

Disposable income and housing cost 2011

Housing cost overburdens 11% of the population

Household finances 2012

The housing cost burden 2004-2013

Household expenditure survey:

Household expenditure survey 2001-2003

Household expenditure survey 2002-2004

Household expenditure survey 2003-2005

Household expenditure survey 2004-2006

Household expenditure survey 2005-2007

Household expenditure survey 2006-2008

Household expenditure survey 2007-2009

Household Expenditure survey 2008-2010

Household Expenditure survey 2009-2011

Household expenditure survey 2010-2012

Risk of poverty:

Risk of poverty and income distribution 2003-2004

Risk of poverty and income distribution 2003-2005

Risk of poverty and income distribution 2003-2006

Risk of poverty and income distribution 2004-2009

Risk of poverty and income distribution 2010

Risk of poverty and income distribution 2011

Risk of poverty and income distribution 2012

Risk of poverty and income distribution 2013

Social indicators:

Social indicators: Tenants renting at market rates

Social indicators: Material deprivation 2004-2013

Social indicators: Material deprivation 2014

Social indicators: Children and poverty


The impact of Financial Crises on the CPI. Paper by  Rósmundur Guðnason and Guðrún R. Jónsdóttir presented at the 11th meeting of the International Working Group on Price Indices (The Ottawa Group), Neuchâtel, Switzerland, 27-29 May 2009. Presentation (PPT).

Liabilities, assets and net worth of individuals 1997-2011

External migration by sex and citizenship 1961-2013

Financial accounts 2003-2013

The Central Bank of Iceland (CBI)

Most if not all of the data and reports published by the Central Bank are available in english.

English section of website:

Key publications:


Monetary Bulletin

Financial Stability report

Working Papers

Rules No. 492/2001 on Price Indexation of Savings and Loans [PDF]


Crisis responses to a housing bust and households’ debt problems. Stockholm, 15 November 2013 T. Tjörvi Ólafsson. [PDF]

Quantification of troubled debt and policy responses - Lessons from Iceland. Nicosia, 27 - 28 January 2014 T. Tjörvi Ólafsson. [PDF]

Working papers:

Working Paper no. 5 - Financial indexation and interest rate policy in Iceland [PDF]

Working Paper no. 29 The residential housing market in Iceland: Analysing the effects of the recent mortgage market restructuring [PDF]

Working Paper no. 59 - Households' position in the financial crisis in Iceland [PDF]

Working Paper no. 66 - Icelandic boom and bust: Immigration and the housing market [PDF]

Working Paper no. 67 - A Dynamic Factor Model for Icelandic Core Inflation [PDF]

Articles from Monetary Bulletin:

2003/2-8 - Financial indexation and fixed interest rates [PDF]

2002/2-R1: Has the public sector kindled household debt accumulation? [PDF]

2003/2-R2: The impact of interest rate changes, inflation and exchange rate changes on household and business finances [PDF]

2003/4-R3: Changes to housing finance arrangements and their impact on financial stability [PDF]

2003/4-R5: The housing component of the CPI and monetary policy [PDF]

2003/4-2V1: Iceland’s national debt [PDF]

2004/1-4V: The foreign debt position of commercial and savings banks and systemic reforms [PDF]

2004/3-R2-1: The impact on the CPI of changes in the housing finance market [PDF]

2004/3-R4-1: An international comparison of household debt [PDF]

2004/3-R4-2: Household debt and the planned extension of public housing finance [PDF]

2004/3-R4-3: Sound practices in foreign currency liquidity management [PDF]

2004/4-4: Housing support and public housing funds in Iceland and abroad [PDF]

2004/4-R2-1: Main changes in the housing market in 2004 [PDF]

2005/1-V4: What mortgage options are currently available to homebuyers? [PDF]

2007/1-FS: Household overdrafts [PDF]

2007/2-FS: Development of household borrowing 2004-2007 [PDF]

2008/2-R4-2: The housing market in a global context [PDF]

2009/4-R4-1: Developments in house prices: Different calculation methods point in the same direction [PDF]

2010/2-R3-1: Real estate market developments [PDF]

2011/2-R3-1: Housing bubbles [PDF]

2011/4-R3-1: Housing owned by the Housing Financing Fund and the banks [PDF]

2012/2-R3-1: The Icelandic rental market [PDF]

2013/2-R4-1: Payments to households in the wake of the financial crisis [PDF]

2014/1-A2: The economic impact of the Government's household mortgage relief measures [PDF]


Economic Affairs no. 1 - Indexation and monetary policy [PDF]

Economic Affairs no. 6 - Indexation 101 [PDF]

In Danish / På dansk : Nationaløkonomisk Tidsskrift, Bind 120 (1982)

Bjarni Bragi Jónsson - Indeksering af finansielle fordringer i Island [PDF]

Articles from Economic Statistics Quarterly:

This publication has not been made available online by the Central Bank of Iceland but for your convenience we have obtained copies of selected articles and made reprints available here in electronic form.

1982/02 Vol. 3 No. 1: Indexation in the Banking System

1982/02 Vol. 2 No. 1: Economic Measures and Policy Actions in January

1984/08 Vol. 5 No. 3: Novelties in Monetary Management in Iceland

1988/08 Vol. 9 No. 3: Developments of Real Interest Rates

1991/05 Vol. 12 No. 2: Financial Indexation in Iceland

1995/02 Vol. 16 No. 1: Changes in the Indexation Regime

District Magistrates

Information about foreclosures and other public enforcement activities, mostly in Icelandic.

District magistrates' portal:

Reykjavík district magistrate:

Key publications:

Reykjavík district annual reports

Reykjavík consolidated statistics 2004-2011

Reykjavík district preliminary statistics first-half 2012:

6.455 requests for attachment execution (aðfarir/fjárnámsbeiðnir)

53 requests for eviction (útburðarbeiðnir)

1.240 real estate foreclosures (nauðungarsölubeiðnir)

243 real estate foreclosure auctions (nauðungaruppboð)

93 automobile foreclosure auctions (bifreiðauppboð)

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