Prof Gylfi Zoega

Positions held:

Professor of Economics, Birkbeck Business School

Overview
Overview

Web profiles
- Personal website
ORCID

0000-0002-7293-4596
Research
Research

Research interests
- macroeconomics
- labour economics
- econometrics
Supervision and teaching
Supervision and teaching

Teaching

Teaching modules
- Monetary Economics
- Financial Markets, Banking and Regulation
Publications
Publications
Article
- Orszag, J.M. and Zoega, Gylfi (1996) Wages ahead of demand. Economics Letters 53 (3), pp. 341-347. ISSN 0165-1765.
- Bianchi, M. and Zoega, Gylfi (1997) Challenges facing natural rate theory. European Economic Review 41 (3-4), pp. 535-547. ISSN 0014-2921.
- Zoega, Gylfi and Phelps, E. (1997) The rise and falling trend of the natural rate. American Economic Review 87 (2), pp. 283-289. ISSN 0002-8282.
- Zoega, Gylfi (1997) Public consumption and unemployment. Scottish Journal of Political Economy 44 (3), pp. 269-279. ISSN 0036-9292.
- Phelps, E.S. and Zoega, Gylfi (1998) Natural‐rate theory and OECD unemployment. The Economic Journal 108 (448), pp. 782-801. ISSN 0013-0133.
- Bianchi, M. and Zoega, Gylfi (1998) Unemployment persistence: does the size of the shock matter?. Journal of Applied Econometrics 13 (3), pp. 283-304. ISSN 0883-7252.
- Gylfason, T. and Herbertsson, T. and Zoega, Gylfi (1999) A mixed blessing: natural resources and economic growth. Macroeconomic Dynamics 3 (2), pp. 204-225. ISSN 1365-1005.
- Bianchi, M. and Zoega, Gylfi (1999) A nonparametric analysis of regional unemployment dynamics in Britain. Journal of Business and Economic Statistics 17 (2), pp. 205-216. ISSN 0735-0015.
- Booth, A.L. and Zoega, Gylfi (1999) Do quits cause under-training?. Oxford Economic Papers 51 (2), pp. 374-386. ISSN 0030-7653.
- Chen, Y.-F. and Zoega, Gylfi (1999) On the effectiveness of firing costs. Labour Economics 6 (3), pp. 335-354. ISSN 0927-5371.
- Francesconi, M. and Orszag, J.M. and Phelps, E.S. and Zoega, Gylfi (2000) Education and the natural rate of unemployment. Oxford Economic Papers 52 (1), pp. 204-223. ISSN 0030-7653.
- Herbertsson, T. and Zoega, Gylfi (2000) Trade surpluses and life-cyce saving behaviour. Economics Letters 65 (2), pp. 227-237. ISSN 0165-1765.
- Jestaz, D. and Phelps, E.S. and Zoega, Gylfi and Fitoussi, J.-P. (2000) Roots of the recent recoveries: labor reforms or private sector forces?. The Brookings Papers on Economic Activity 1, pp. 237-291.
- Phelps, E.S. and Zoega, Gylfi (2001) Structural booms. Economic Policy 16 (32), pp. 85-126. ISSN 0266-4658.
- Bianchi, M. and Gudmundsson, B. and Zoega, Gylfi (2001) Iceland's natural experiment in supply-side economics. American Economic Review 91 (5), pp. 1564-1579. ISSN 0002-8282.
- Coakley, Jerry and Fuertes, A.-M. and Zoega, Gylfi (2001) Evaluating the persistence and structuralist theories of unemployment from a nonlinear perspective. Studies in Nonlinear Dynamics and Econometrics 5 (3), pp. 179-202. ISSN 1558-3708.
- Booth, A.L. and Chen, Y.-F. and Zoega, Gylfi (2002) Hiring and firing: a tale of two thresholds. Journal of Labor Economics 20 (2), ISSN 0734-306X.
- Gylfason, T. and Herbertsson, T. and Zoega, Gylfi (2002) Ownership and growth. The World Bank Economic Review 15 (3), pp. 431-449. ISSN 0258-6770.
- Wall, H.J. and Zoega, Gylfi (2002) The British Beveridge curve: a tale of ten regions. Oxford Bulletin of Economics and Statistics 64 (3), pp. 257-276. ISSN 0305-9049.
- Herbertsson, T.T. and Zoega, Gylfi (2002) The Modigliani 'puzzle'. Economics Letters 76 (3), pp. 437-442. ISSN 0165-1765.
- Booth, A.L. and Zoega, Gylfi (2003) The welfare implications of firing costs. European Journal of Political Economy 19 (4), pp. 759-775. ISSN 0176-2680.
- Booth, A.L. and Francesconi, M. and Zoega, Gylfi (2003) Unions, work-related training, and wages: evidence for British men. Industrial and Labor Relations Review 57 (1), ISSN 0019-7939.
- Booth, A.L. and Zoega, Gylfi (2004) Is wage compression a necessary condition for firm-financed general training?. Oxford Economic Papers 56 (1), pp. 88-97. ISSN 0030-7653.
- Smith, Ron P. and Zoega, Gylfi (2007) Global unemployment shocks. Economics Letters 94 (3), pp. 433-438. ISSN 0165-1765.
- Smith, Ron P. and Zoega, Gylfi (2008) Global factors, unemployment adjustment and the natural rate. Economics 22, ISSN 1864-6042.
- Booth, A.L. and Zoega, G. (2008) Worker heterogeneity, new monopsony, and training. Labour 22 (2), pp. 247-270. ISSN 1121-7081.
- Smith, Ron P. and Zoega, Gylfi (2009) Keynes, investment, unemployment and expectations. International Review of Applied Economics 23 (4), pp. 427-444. ISSN 0269-2171.
- Zoega, Gylfi and Smith, Ron P. (2009) Keynes, investment, unemployment and the labour market. International Review of Applied Economics 23 (4), pp. 427-444. ISSN 0269-2171.
- Chen, Y.-F. and Zoega, Gylfi (2010) An essay on the generational effect of employment protection. Mathematical Social Sciences 59 (3), pp. 349-359. ISSN 0165-4896.
- Benediktsdottir, S. and Danielsson, J. and Zoega, Gylfi (2011) Lessons from a collapse of a financial system. Economic Policy 26 (66), pp. 183-231. ISSN 0266-4658.
- Fridriksson, K.S. and Zoega, Gylfi (2012) Advertising as a predictor of investment. Economics Letters 116 (1), pp. 60-66. ISSN 0165-1765.
- Choudhary, M.A. and Karlsson, T. and Zoega, Gylfi (2012) Sticky prices in customer markets*. Economic Record 88 (282), pp. 372-390. ISSN 0013-0249.
- Phelps, E. and Zoega, Gylfi (2013) Corporatism and job satisfaction. Journal of Comparative Economics 41 (1), pp. 35-47. ISSN 0147-5967.
- Gudmundsson, G.S. and Zoega, Gylfi (2014) Age structure and the current account. Economics Letters 123 (2), pp. 183-186. ISSN 0165-1765.
- Ahmed, W. and Choudhary, M.A. and Khan, S. and Naeem, S. and Zoega, Gylfi (2014) Determinants of wage stickiness in a developing economy. Economic Modelling 38, pp. 296-304. ISSN 0264-9993.
- Chen, Y.-F. and Zoega, Gylfi (2015) A non-perpetual shirking model. Economics Letters 134, pp. 98-101. ISSN 0165-1765.
- Gylfason, T. and Tómasson, H. and Zoega, Gylfi (2016) Around the world with Irving Fisher. The North American Journal of Economics and Finance 36, pp. 232-243. ISSN 1062-9408.
- Asgeirsdottir, T. and Olafsson, S. and Zoega, Gylfi (2016) Sleep and the management of alertness. Mind & Society ISSN 1593-7879.
- Katsimi, M. and Zoega, Gylfi (2016) European integration and the Feldstein–Horioka Puzzle. Oxford Bulletin of Economics and Statistics 78 (6), pp. 834-852. ISSN 0305-9049.
- Zoega, Gylfi (2016) Responding to capital flows in a very small economy. Atlantic Economic Journal 44 (2), pp. 159-170. ISSN 0197-4254.
- Raza, H. and Gudmundsson, B. and Zoega, Gylfi and Kinsella, S. (2016) Two thorns of experience: financialisation in Iceland and Ireland. International Review of Applied Economics 30 (6), pp. 771-789. ISSN 0269-2171.
- Björnsson, D.F. and Zoega, Gylfi (2017) Seasonality of birth rates in agricultural Iceland. Scandinavian Economic History Review 65 (3), pp. 294-306. ISSN 0358-5522.
- Zoega, Gylfi and Gestsson, M. (2018) The golden rule of longevity. Macroeconomic Dynamics 23 (1), pp. 384-419. ISSN 1365-1005.
- Zoega, Gylfi and Arnorsson, A. (2018) On the causes of Brexit. European Journal of Political Economy 55, pp. 301-323. ISSN 0176-2680.
- Zoega, Gylfi and Phelps, E.S. (2018) Values, institutions and the rise of Eastern Europe. Economics of Transition 27 (1), pp. 247-265. ISSN 1468-0351.
- Raza, H. and Kinsella, S. and Zoega, Gylfi (2018) Exploring the effects of capital mobility on the saving–investment nexus: evidence from Icelandic historical data. Scandinavian Economic History Review 67 (2), pp. 117-131. ISSN 0358-5522.
- Raza, H. and Kinsella, S. and Zoega, Gylfi (2018) Capital inflows, crisis and recovery in small open economies. Finance Research Letters 27, pp. 273-282. ISSN 1544-6123.
- Aksoy, Yunus and Zoega, Gylfi (2020) Fertility changes and replacement migration. Economics Letters 196 (109519), ISSN 0165-1765.
- Zoega, Gylfi and Hall, A. and Scheving, A.S. (2021) The effect of a financial crisis on household finances: a case study of Iceland’s financial crisis. Journal of Economic Crises 3 (4),
- Zoega, Gylfi and Gylfason, G. (2021) Gender differences in Iceland's education system. Icelandic Journal of Education 30 (2), pp. 135-165. ISSN 2298-8394.
- Zoega, Gylfi (2021) Financial crises and current account surpluses. Atlantic Economic Journal 49, pp. 159-172. ISSN 0197-4254.
- Zoega, Gylfi and Katsimi, M. and Teck Hoon, H. (2022) Investment and the long swings of unemployment. Economics of Transition and Institutional Change ISSN 2577-6983.
- Ásgeirsdóttir, T. and Gylfason, G. and Zoega, Gylfi (2025) A natural experiment in education reform: the case of upper-secondary curriculum compression. The Manchester School ISSN 1463-6786.
- Zoega, Gylfi and Hougaard Jensen, S. and Olafssson, S.P. and Sveinsson, T.S. and Stefansson, A.S. (2025) Does mandatory saving crowd out voluntary saving? Evidence from a pension reform. Review of Economics and Statistics ISSN 0034-6535. (In Press)
Book
- Aliber, R.Z. and Zoega, Gylfi, eds. (2011) Preludes to the Icelandic financial crisis. pp. 329-340. Basingstoke, UK: Palgrave Macmillan. ISBN 9780230276925.
- Phelps, E. and Teck Hoon, H. and Zoega, Gylfi (2023) The great economic slowdown: how narrowed technical progress brought static wages, sky-high wealth, and much discontent. London, UK: Palgrave Macmillan. ISBN 9783031314407.
- Aliber, R. and Gudmundsson, M. and Zoega, Gylfi, eds. (2023) Fault lines after COVID-19: global economic challenges and opportunities. London, UK: Palgrave Macmillan. ISBN 9783031264818.
Book section
- Zoega, Gylfi and Fitoussi, J.-P. (1996) Wage distribution and unemployment. In: Baldassari, M. (ed.) The 1990s Slump: Causes and Cures. Palgrave Macmillan. pp. 97-132. ISBN 9781349246632.
- Phelps, E.S. and Zoega, Gylfi (1996) Do the main structural forces of the 1970s and 1980s account for the 1990s slump as well?. In: Baldassari, M. (ed.) The 1990s Slump: Causes and Cures. Palgrave Macmillan. pp. 317-338. ISBN 9781349246632.
- Phelps, E. and Zoega, Gylfi (2002) The incidence of increased unemployment in the group of seven, 1970-1994. In: Bitros, G. and Katsoulacos, Y. (eds.) Essays in Economic Theory, Growth and Labor Markets: A Festschrift in Honor of E. Drandakis. Edward Elgar Publishing. pp. 154-180. ISBN 9781840647396.
- Buiter, W. and Sibert, Anne (2011) The collapse of Iceland's banks: the predictable end of a non-viable business model. In: Aliber, R.Z. and Zoega, Gylfi (eds.) Preludes to the Icelandic Financial Crisis. Basingstoke, UK: Palgrave Macmillan. pp. 241-275. ISBN 9780230276925.
- Sibert, Anne (2011) Overbanked and undersized: lessons from Iceland. In: Aliber, R.Z. and Zoega, Gylfi (eds.) Preludes to the Icelandic Financial Crisis. Basingstoke, UK: Palgrave Macmillan. pp. 329-340. ISBN 9780230276925.
Monograph
- Zoega, Gylfi and Chen, Y.-F. (2001) Exchange-rate volatility as employment protection. London, UK: Birkbeck, University of London.
- Herbertsson, T. and Zoega, Gylfi (2001) The Modigliani 'puzzle'. London, UK: Birkbeck, University of London.
- Booth, A.L. and Zoega, Gylfi (2001) Worker heterogeneity and general training. London, UK: Birkbeck, University of London.
- Gylfason, T. and Zoega, Gylfi (2001) Natural resources and economic growth: the role of investment. London, UK: Birkbeck, University of London.
- Booth, A.L. and Zoega, Gylfi (2001) Is wage compression a necessary condition for firm-financial general training?. London, UK: Birkbeck, University of London.
- Gylfason, T. and Zoega, Gylfi (2001) Obsolescence. London, UK: Birkbeck, University of London.
- Chen, Y.-F. and Snower, Dennis and Zoega, Gylfi (2001) Labour market institutions and macroeconomics shocks. London, UK: Birkbeck, University of London.
- Booth, A.L. and Zoega, Gylfi (2002) If you’re so smart, why aren't you rich? wage inequality with heterogeneous workers. Elsevier.
- Smith, Ron P. and Zoega, Gylfi (2004) Global shocks and unemployment adjustment. London, UK: Birkbeck, University of London.
- Smith, Ron P. and Zoega, Gylfi (2004) Global shocks and world adjustment. London, UK: Birkbeck, University of London.
- Smith, Ron P. and Zoega, Gylfi (2005) Unemployment, investment and global expected returns: a panel FAVAR approach. London, UK: Birkbeck, University of London.
- Zoega, Gylfi and Karlsson, T. (2005) Does wage compression explain rigid money wages?. London, UK: Birkbeck, University of London.
- Zoega, Gylfi and Booth, A.L. (2005) Worker heterogeneity, intra-firm externalalities and wage compression. London, UK: Birkbeck, University of London.
- Smith, Ron P. and Zoega, Gylfi (2006) Global factors, unemployment adjustment and the natural rate. Institute of Economic Studies.
- Smith, Ron P. and Zoega, Gylfi (2007) Global factors, unemployment adjustment and the natural rate. Kiel Institute for the World Economy.
- Booth, A.L. and Zoega, Gylfi (2007) Worker heterogeneity, new monopsony, and training. Labour 22 (2), pp. 247-270. Reykjavík, Iceland: University of Iceland. ISSN 1121-7081.
- Zoega, Gylfi (2009) Employment and asset prices. London, UK: Birkbeck College, University of London.
- Choudhary, A. and Karlsson, T. and Zoega, Gylfi (2009) Survey evidence on customer markets. London, UK: Birkbeck College, University of London.
- Chen, Y.-F. and Zoega, Gylfi (2009) An essay on the generational effect of employment protection. London, UK: Birkbeck College, University of London.
- Chen, Y.-F. and Zoega, Gylfi (2010) Life-cycle, effort and academic deadwood. London, UK: Birkbeck College, University of London.
- Gudmundsson, G.S. and Zoega, Gylfi (2013) Age structure and the current account. London, UK: Birkbeck, University of London.
- Katsimi, M. and Zoega, Gylfi (2014) European integration and the Feldstein-Horioka Puzzle. London, UK: Birkbeck College, University of London.
- Gestsson, M.H. and Zoega, Gylfi (2014) A golden rule of health care. London, UK: Birkbeck College, University of London.
- Ali Choudhary, M. and Mahmood, S. and Zoega, Gylfi (2015) Informal labour markets in Pakistan. London, UK: Birkbeck, University of London.
- Arnorsson, A. and Zoega, Gylfi (2016) On the causes of Brexit. London, UK: Birkbeck College, University of London.
- Raza, H. and Zoega, Gylfi and Kinsella, S. (2017) Capital inflows, crisis and recovery in small open economies. London, UK: Birkbeck, University of London.
- Bojilov, R. and Gunnarsson, J.A. and Zoega, Gylfi (2017) East versus West on the European populism scale. London, UK: Birkbeck, University of London.
- Gestsson, M.H. and Zoega, Gylfi (2017) The golden rule of longevity. London, UK: Birkbeck, University of London.
- Zoega, Gylfi and Gestsson, M.H. (2018) Longevity and companionship in an overlapping-generations model. London, UK: Birkbeck, University of London.
- Hoon, H.T. and Katsimi, M. and Zoega, Gylfi (2018) Investment, current account, and the long swings of unemployment. London, UK: Birkbeck, University of London.
- Engilbertsson, S. and Zoega, Gylfi Koram, Kojo, ed. (2019) The effect of Brexit on the UK Economy (so far). pp. 1-20. London, UK: Birkbeck, University of London. ISBN 9780745338828. (In Press)
- Aksoy, Yunus and Zoega, Gylfi (2020) Fertility changes and replacement migration. London, UK: Birkbeck Centre for Applied Macroeconomics.

Prof Gylfi Zoega

Overview

Web profiles

ORCID

Research

Research interests

Supervision and teaching

Teaching

Teaching modules

Publications

Article

Book

Book section

Monograph