NYT Strongly Disagrees with the I.M.F. on the State of Iceland's Economy

An NYT article on the upcoming elections in Iceland told readers that, "gross national income per capita is down by a quarter since 2007." The I.M.F. doesn't agree. According to the I.M.F. data, per capital GDP in Iceland is around 2.0 percent higher now than its pre-recession peak. That is a very different story.

In fairness, the NYT piece refers to gross national income (GNI), not gross domestic product. Generally these are very close, but in a small country like Iceland they may differ by...