Albert Marcet's picture
Affiliation: 
Institut d’Analisi Economica, CSIC
Credentials: 
Professor of Economics

Voting history

The Future of Central Bank Independence

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Question 3: More generally, do you agree that it is desirable to maintain central bank independence? Again focus on the near future, say next 48 months.

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Answer:
Agree
Confidence level:
Confident

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Question 2: Do you agree that the traditional argument that less central bank independence leads to higher inflation will (still) be relevant over the next 48 months in Western economies?

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Answer:
Agree
Confidence level:
Confident

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Question 1: Do you agree that central bank independence in the Eurozone and the UK will decline over the next 48 months?

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Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
Although there are some complaints about central banks actions they are often contradictory. Many Germans complain because the ECB is too expansionary, Trump backers complain that the Fed is not sufficiently expansionary. It is clear that central banks have reacted to the crisis in a way that it has avoided a deeper problem. Because of the crisis all institutions are in question, including central banks, but I doubt a clear constituency against their current role will emerge. But then, so many weird things have been having in politics that who knows.