Sækja ferilskrá / CV : Friðrik Már Baldursson

1994   M.Sc. in economics, Faculty of Economics and Business Administration, University of Iceland
1985   Ph.D. in statistics and applied probability, Department of Statistics, Columbia University
1981   Violin solo diploma, Reykjavik College of Music
1979   B.Sc. in mathematics and mathematical statistics, Department of Mathematics, University of Gothenburg (formal degree 1982)
1976–1978   Studies in mathematics, Department of Mathematics, University of Iceland,
1976   Matriculation examination (“stúdentspróf”), Menntaskólinn við Tjörnina

Employment history
2007–   Professor of Economics, School of Business, Reykjavik University
2012–   Professor II, Department of Economics, University of Oslo (part-time research position)
2009–2013   Dean, School of Business, Reykjavik University
2007–2009   Director, Reykjavik University Financial Research Institute
2006–2007   Dean, Faculty of Economics and Business Administration, University of Iceland
2003–2007   Professor of Economics, Department of Economics, University of Iceland
1999–2003   Research Professor, funded by the Nordic Energy Research Programme, Institute of Economic Studies, University of Iceland
1998–1999   Managing Director (acting), National Economic Institute of Iceland
1994–1998   Head of Economic Research, National Economic Institute of Iceland
1988–1994   Head of Modelling, National Economic Institute of Iceland
1985–1988   Assistant Professor, Department of Statistics, Columbia University

Public service
2009–   Icelandic State Financial Investments, member of Selection Committee for the State´s board members
2013   Leader of the Icelandic Growth Forum Secretariat
2009–2012   Central Bank of Iceland, Supervisory Board (main member March-August 2009, reserve member from August 2009)
2011   Icelandic State Financial Investments, member of Selection Committee for hiring Managing Director
2010–2011   Norwegian Ministry of Petroleum and Energy, Chairman of a committee for evaluating the need for a new power line through the Hardanger fjord
2002–2011   Chairman, Board of Directors, Icelandic Marine Research Institute
2009–2011   Chairman, Board of Directors, Landsnet hf. (the Icelandic Electricity Transmission System Operator)
2009–2011   Member of Prime Minister’s Committee on Leasing Public Water Resources in Iceland
2008   Leader on Iceland’s behalf in negotiations for an International Monetary Fund Stand-By Agreement for Iceland, October
2007–2008   Chairman, Finance Minister’s Committee for Assessing Iceland’s System of Taxation
2006–2008   Chairman, Board of Directors, Iceland Telecommunications Infrastructure Fund
2005   Acting Director of the Icelandic Competition Authority in the division and merger of Burdaras with Landsbanki, on the one hand, and Straumur Investment Bank on the other
2002–2005   Deputy chairman, Board of Directors, Iceland Telecom Ltd.
2005   Chairman, Fisheries Minister’s Committee for Evaluating Effects of the Strong Krona on Fisheries and Possible Actions of the Government in that Regard
2002–2005   Chairman, Fisheries Minister’s Committee for Revising Utilisation Strategy for Iceland’s Marine Resources
2001–2002   Deputy Chairman, Fisheries Minister’s Committee for Revising Utilisation Strategy for Iceland’s Marine Resources
1999–2001   Chairman, Fisheries Minister’s Committee for Revising Iceland’s Fisheries Law
1998–1999   Board Member, Icelandic Fish Quota Exchange
1993–1994   Member, Fisheries Minister’s Committee for Formulating Utilisation Strategy for Iceland’s Cod Stock

Academic service
2006–   Associate Editor Scandinavian Journal of Economics
2007–   On evaluation committees for academic positions at Reykjavik University: professor of finance (2007), associate professor of financial mathematics (2008)
2005–   On evaluation committees for academic positions at University of Gothenburg: associate professor of finance (2011), associate professor of public finance (2009), professor of econometrics (2008), professor of economics (2006), professor of industrial economics (2005)
2003–   On evaluation committees for academic positions at University of Iceland: professor of economics (2013), associate professor of economics (2010), associate professor of finance (2005), professor of economics (2004), assistant professor of finance (2004), associate/full professor of mathematics (2003)
1998–   Opponent/„pre-examiner“ at doctoral defences: Norwegian University of Life Sciences (2012), Helsinki University of Technology (2002), Stockholm School of Economics (2001), University of Copenhagen (1998)
2012   Chairman of evaluation committee for position of Dean at the Department of Design & Architecture, Icelandic Academy of the Arts
2010   Chairman of evaluation committee for position of Dean at the Department of Computer Science, Reykjavik University
2010   Evaluation of research activity at the Department of Economics, University of Gothenburg, 2010 (a part of an evaluation of research at the university as a whole)
2010   External reviewer for promotion to full professor of economics, Aalto University
2008–2009   Chairman of Reykjavik University Research Council
2002–2005   Member of evaluation committees for promotion of researchers at Statistics Norway (2002 and 2005)
2004   Member of expert evaluation group for applications to the “Renergi” programme of the Norwegian Research Council
2002   Member of social science evaluation committee for the Icelandic Research Council

Teaching
2009    Reykjavik University, School of Business: financial econometrics (M.Sc.)
2003–2007    Faculty of Economics and Business Administration, University of Iceland: microeconomics, econometrics, financial econometrics, financial mathematics, regulation, energy economics (B.Sc. and M.Sc.)
1988–2001    Faculty of Economics and Business Administration, University of Iceland, Adjunct Professor: investment under uncertainty (M.Sc.), econometrics (B.Sc.)
1985–1988    Columbia University, Department of Statistics: statistics and probability (B.Sc. to Ph.D.)

Grants
2013-2016    Participant in an international, interdisciplinary research consortium under the leadership of SINTEF (Norway) which received €7.7 million grant from the EU 7th Framework Programme to develop a new reliability criterion for electricity transportation (acronym: “GARPUR”)

2011-2015    Participant in an international research group under the leadership of the Frisch Centre at the University of Oslo, which received a grant of NOK 40 million from the Norwegian Research Council to establish CREE – Oslo Centre for Research on Environmentally Friendly Energy. A possibility exists for an extension of three years.
2007-2010    Participant in a Nordic research group, which was granted NOK 5 million from Nordic Energy Research (an institution of the Nordic Council of Ministers) to develop research and support doctoral students in energy economics (acronym: NEECI)

2003-2010   Participant in a Nordic research group, which was granted NOK 10 million from Nordic Energy Research (an institution of the Nordic Council of Ministers) to develop research and support doctoral students in energy economics (acronym: NEMIEC).
 

Refereeing
Canadian Journal of Economics, Economica, The Energy Journal, Environmental and Resource Economics, Fjármálatíðindi, Journal of Business, Journal of Economic Dynamics and Control, Journal of Economic Theory, Journal of Environmental Economics and Management, Journal of Futures Markets, Journal of Institutional and Theoretical Economics, Journal of Public Economics, ICES Journal of Marine Science, Marine Research Economics, Mathematical Methods of Operations Research, Review of Economic Studies, Review of Financial Studies, Scandinavian Journal of Economics, Stochastic Processes and their Applications, Stochastics, SIAM Journal of Control and Optimization, Tímarit um viðskipta- og hagfræði, Utilities Policy
 

Conferences organised (from 2005)
2011   The Debt Crisis in the Eurozone, Reykjavik University, 7-8 October. Co-organiser with Mitu Gulati. International conference with speakers from both sides of the Icelandic (Franklin Allen, Viral Acharia, Jeromin Zettelmeyer, Frank Smets, and Mitu Gulati - to name a few)
2009   International Workshop on Energy Economics, Reykjavik University, 1-2 December, 2009
2008   Conference on International Finance, Reykjavik University, 10 June, 2008
2006   International Conference on Energy Economics, Búðir, 28-30 September 2006, Co-organiser with Nils-Henrik von der Fehr, University of Oslo
2004   Conference on Experiments in Natural Resource Economics, Akureyri, 20-22 May, 2004. Co-organiser with Ragnar Árnason and Jón Þór Sturluson)
2005   Nordic Workshop in Industrial Organization (NORIO V). Faculty of Economics and Business Administration, University of Iceland, 3-4 June. Chair of Organisation and Programme Committee
2005   3rd Conference of the Scandinavian Association of Law and Economics: Economics of Law Enforcement, Centre for Law, Economics and Financial Institutions at the Copenhagen Business School, Copenhagen Business School, 17-18 June 2005. Member of Programme Committee

Publications

Doctoral thesis
Baldursson, Friðrik M. (1985). Topics in singular stochastic control and optimal stopping, Ph.D. thesis written with Ioannis Karatzas as advisor

Peer-reviewed publications in English
Baldursson, Friðrik and Richard Portes (2014). ‘Capital controls and the resolution of failed cross-border banks: the case of Iceland’, Capital Markets Law Journal, 9(1), 40-54
 

Baldursson, Friðrik and Nils-Henrik von der Fehr (2012). ‘Price volatility and risk exposure: on the interaction of quota and product markets’, Environmental and Resource Economics, 52(12), 213-233
 

Baldursson, Friðrik M. and Jón Þór Sturluson (2011). ‘Fees and the Efficiency of Tradable Permit Systems: an Experimental Approach’. Environmental and Resource Economics, 48(1), 25-41
 

Baldursson, Friðrik and Nils-Henrik von der Fehr (2008). ‘Prices vs quantities: public finance and the choice of regulatory instruments’. European Economic Review, 52, 1242-1255
 

Baldursson, Friðrik M. and Axel Hall (2008). ‘Out of reach? Convergence to an inflation target in the Central Bank of Iceland’s macroeconomic model’, Tímarit um viðskipti og efnahagsmál (Special issue in honor of Gudmundur Magnusson), 83-105.
 

Baldursson, Friðrik and Nils-Henrik von der Fehr (2007). ‘A whiter shade of pale: on the political economy of regulatory instruments’, Journal of the European Economic Association, 5(1), 37-65
 

Amundsen, Eirik S., Friðrik M. Baldursson and Jørgen Birk Mortensen (2006). ‘Price volatility and banking in green certificate markets’, Environmental and Resource Economics, 35(4), 259-287
 

Árnason, R., Friðrik M. Baldursson and Jón Þór Sturluson (2006). Editorial for special issue of Journal of Economic Behavior and Organization (Experiments in Natural Resource Economics), 61(2), 145-148
 

Baldursson, Friðrik M. (2006). ‘Rent-seeking and fairness: The case of the Reykjavik Savings Bank’, International Review of Law and Economics, 26(1), 123-142
 

Baldursson, Friðrik M. and Nils-Henrik von der Fehr (2004). ‘Prices vs. quantities: the irrelevance of irreversibility’, Scandinavian Journal of Economics, 106(4), 805-821
 

Baldursson, Friðrik M. and Nils-Henrik von der Fehr (2004). ‘Price volatility and risk exposure: on market-based environmental policy instruments’, Journal of Environmental Economics and Management, 48(1), 682-704
 

Baldursson, Friðrik M. (1999). ‘Modelling the price of industrial commodities’, Economic Modelling, 16, 331-353
 

Baldursson, Friðrik M. (1998). ‘Irreversible investment under uncertainty in oligopoly’, Journal of Economic Dynamics and Control, 22, 627-644
 

Baldursson, Friðrik M., Ásgeir Daníelsson, Gunnar Stefánsson and Kristján Þórarinsson (1997). ‘Utilization of the Icelandic cod stock in a multispecies context’, Marine Resource Economics, 12, 329-344
 

Baldursson, Friðrik M. and Guðmundur Magnússon (1997). ‘Portfolio fishing’, Scandinavian Journal of Economics, 99(3), 389-403
 

Baldursson, Friðrik M. and Ioannis Karatzas (1997) ‘Irreversible investment and industry equilibrium’, Finance and Stochastics, 1, 69-89
 

Baldursson, Friðrik M., Ásgeir Daníelsson and Gunnar Stefánsson (1996). ‘On the rational utilization of the Icelandic cod stock’, ICES Journal of Marine Science, 53, 643-658
 

Baldursson, Friðrik M. (1991). ‘A stochastic fisheries model with seasonal migration’, in R. Arnason and Bjorndal, T. (eds.) Essays on the economics of migratory fish stocks, 69-82, Springer Verlag, Berlin
Baldursson, Friðrik M. (1987). ‘Singular stochastic control and optimal stopping’, Stochastics, 21, 1 40

Recently completed research papers
Baldursson, Friðrik M. and Richard Portes (2013). Gambling for Resurrection in Iceland: the Rise and Fall of the Banks, CEPR Discussion Paper 9664, September

Research work in progress
Baldursson, Friðrik M. and Richard Portes. ‘Carry trade, capital controls and monetary policy in Iceland’
 

Baldursson, Friðrik M. and Nils-Henrik von der Fehr. ‘Natural Resources and Sovereign Expropriation’
Baldursson, Friðrik M. and Nils-Henrik von der Fehr. ‘Vertical Integration and Long-Term Contracts in Risky Markets’

Peer-reviewed publications in Icelandic
Friðrik M. Baldursson (2009). ‘Eiga bætur vegna brota á samkeppnislögum að vera hærri en mat á skaða?’ [‘Should fines for violations of competition law be higher than damage?’] Úlfljótur, Vol. 62, no. 1, 67-71
 

Friðrik M. Baldursson og Jón Þór Sturluson (2006). ‘Áhrif gjaldtöku á hagkvæma nýtingu auðlinda: rannsókn byggð á tilraunum’ [‘The impact of resource fees on the efficiency of tradable permit systems’], Fjármálatíðindi, 53(1), 3-21
 

Friðrik M. Baldursson og Sigurður Jóhannesson (2005). ‘Kaupendamáttur á sementsmarkaði’ [‘Buyer power in the cement industry’], Fjármálatíðindi, 52(2), 3-13
 

Friðrik M. Baldursson (2005). ‘Skaðleg undirverðlagning á flugmarkaði’ [‘Predatory pricing in the air transport market’], in Ingjaldur Hannibalsson (Ed.) (2005). Rannsóknir í Félagsvísindum VI, University of Iceland Press, 121-132
 

Friðrik M. Baldursson (2004). ‘Réttlæti og sérhagsmunir’ [‘Justice and special interest groups’], Fjármálatíðindi, 51 (2), 78-86
 

Friðrik M. Baldursson (2004). ‘SPRON, sérhagsmunir og réttlæti’ [‘SPRON, special interests and justice’], in Ingjaldur Hannibalsson (Ed.) (2004). Rannsóknir í Félagsvísindum V, University of Iceland Press, 125-134
 

Eirik Amundsen og Friðrik M. Baldursson (2003). ‘Kvikt líkan af grænum raforkumarkaði’ [‘A dynamic model of a green electricity market’], Tímarit um raunvísindi og stærðfræði, 1(2), 81-89.
 

Friðrik M. Baldursson (1993). ‘Um neyslu og tekjur á Íslandi’ [‘On consumption and income in Iceland’], Fjármálatíðindi, 40 (3), 186-199
 

Friðrik M. Baldursson (1990). ‘Einfalt íslenskt haglíkan’ [‘A simple Icelandic macroeconomic model’], Fjármálatíðindi, 37(1), 22-32

Selected recent non-peer-reviewed writings
Baldursson, Friðrik M. and Richard Portes (2014). ‘Gambling for Resurrection in Iceland’, VoxEU.org, 6 January
 

Baird, Douglas G., Nicole Bollen, Lee C. Buchheit, G. Mitu Gulati, Anne O. Krueger, Friðrik Már Baldursson, Robert K. Rasmussen, David A. Skeel, Sergei Storchak, and Jeromin Zettelmeyer (2013). ‘The Role of the IMF in Future Sovereign Debt Restructurings’, USC CLASS Research Paper No. CLASS 13-6; USC Law Legal Studies Paper No. 13-19
 

Baldursson, Friðrik M. and Richard Portes (2013). ‘Iceland’s capital controls’, VoxEU.org, 6 January
 

Baldursson, Friðrik M. (2010). ‘Icesave: The big ultimatum’, VoxEU.org, 29 January
 

Baldursson, Friðrik M. (2011). ‘Iceland’s program with the IMF 2008-11’, VoxEU.org, 8 November
 

Baldursson, Friðrik M. (2011). ‘Iceland’s program with the IMF 2008-2011’. Note prepared for the conference “Iceland´s Recovery—Lessons and Challenges” hosted by Icelandic authorities and the IMF on October 27 2011
 

Baldursson, Friðrik M. (2011). “Valkostir í peninga- og gengismálum” [‘Monetary and exchange rate policy options for Iceland’], report prepared for the Ministry of Economic Affairs, 11 April
 

Baldursson, Friðrik M., Olvar Bergland, Jørgen Bjørndalen, Cathrine Hagem, Ane Marte Heggedal, Håvard Moen, Knut Einar Rosendahl (2011). ‘Har vi tid til å vente på en sjøkabel i Hardanger?’, Samfunnsökonomen, Nr. 3, 4-14
 

Baldursson, Friðrik M. (2011). ‘A note on a sovereign insolvency mechanism – lessons from Icesave’. Note prepared for an UNCTAD/IPD Conference on resolution of debt crises, Columbia University, February 11, 2011
 

Baldursson, Friðrik M. (2011). ‘Icesave: Groundhog Day?’, VoxEU.org, 10 January
 

Baldursson, Friðrik (2009). ‘The Difference between Ireland and Iceland’. In Joe Mulholland and Finbarr Bradley (Eds.) Proceedings of the 29th Annual MacGill Summer School 2009, Carysfort Press, Dublin
 

Portes, Richard, and Friðrik M. Baldursson (2007). The Internationalisation of Iceland’s Financial Sector (with Frosti Olafsson), Iceland Chamber of Commerce, November

Talks
Recent and upcoming talks
2014    ‘Gambling for Resurrection in Iceland: the Rise and Fall of the Banks’
-Nordic Summer Symposium in Macroeconomics (NORMAC 2014), Laugarvatn, 14-16 August
-European Summer Symposium in International Macroeconomics (ESSIM 2014), Tarragona, 27- 30 May
-Conference on Financial Stability and Regulation, IESE Business School, Barcelona, 27- 28 March
-Central Bank of Iceland, 7 January

2014   ‘Sjálfstæð peningastefna og fjármagnshöft’ [Independent monetary policy and capital controls’], Í ljósi reynslunnar, conference in honour of Jóhannes Nordal, University of Iceland, 9 May
2013   Invited contribution at The Role of the IMF in Future Sovereign Debt Restructurings, University of Southern California, 2 November
2012   ‘Natural resources and sovereign expropriation’.
-Annual Conference of CREE – Oslo Centre for Research on Environmentally friendly Energy, 24-25 September
-5th Atlantic Workshop on Energy and Environmental Economics, A Toxa, Spain, 25-26 June

2012   ‘Removal of Capital Controls’, presentation to Ad Hoc Group on the Removal of Iceland’s Capital Controls (Ad Hoc group composed of representatives from EU, IMF, Bruegel Institute and Icelandic Officials), 21 September
 

2011   ‘Iceland’s program with the IMF 2008-2011’. Iceland´s Recovery—Lessons and Challenges, conference hosted by Icelandic authorities and the IMF, 27 October (invited talk)

2011   ‘Price volatility and risk exposure: on the interaction of quota and product markets’. Annual Conference of CREE – Oslo Centre for Research on Environmentally friendly Energy, 26 September

2011   Baldursson, Friðrik M. (2011). “Valkostir í peningamálum” [‘Monetary policy options for Iceland’], talk at a workshop held by the Ministry of Economic Affairs, University of Iceland, 12 April
2011   ‘A sovereign insolvency mechanism – lesso

ns from Icesave’. UNCTAD/IPD Conference on resolution of debt crises, Columbia University, 11 February (invited talk)

2009   ‘The Difference between Ireland and Iceland’. 29th Annual MacGill Summer School, Donegal, Ireland (invited talk)

2007   ‘Vertical Integration and Long-Term Contracts in Risky Markets’. Annual Conference of the International Society for New Institutional Economics, Reykjavik, 21-23 June

Selected talks for a wider audience 2012–2014
2014   ‘Aukin samkeppnishæfni’ [‘Increased competitiveness’], conference organised by SA – Business Iceland, 3 April

2014   ‘Staða og horfur á Íslandi’ [Economic prospects in Iceland], conference organised by Union of Public Servants, 15 January

2013   ‘The impact of the current economic and sovereign debt crisis on Smaller European States’, Eighth Conference of the Presidents of Parliaments of Small European States, 28 August

2012   ‘Stjórnarseta – hvað (ef eitthvað) hefur breyst?’ [‘Board membership – what (if anything) has changed?], conference organized by Deloitte, 29 November

2012   ‘Peningastefna og gjaldeyrismál’ [‘Iceland’s Monetary and Exchange Rate Policy’], presentation to Deloitte, 15 November, KPMG, 8 May, Chamber of Commerce 16 April

2012   ‘Afnám gjaldeyrishafta’ [‘Removal of Capital Controls”], talk at a conference organised by the Confederation of Icelandic Employers, 15 May

2012   ‘Iceland – Economic Prospects’, 33rd Annual Meeting of OECD Senior Budget Officials, 7 June and Annual Meeting of the Board of Governors of the Nordic Investment Bank, 26 March

2012   ‘Skipulag á raforkumarkaði’ [‘Structure of the Icelandic Electricity Market’], 100th Anniversary Conference of the Icelandic Association of Civil Engineers, 8 March

2012    ‘Munurinn á því að taka upp gjaldmiðil einhliða eða taka upp evru með aðild að ESB’ [‘Joining the Eurozone or Euroising Unilaterally – What is the Difference?’], conference organised by the Icelandic Confederation of Labour, 10 January