Costas Milas's picture
Affiliation: 
University of Liverpool
Credentials: 
Professor of Economics

Voting history

German Council of Economic Experts' view of ECB policy

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Question 2: Do you agree that the ECB's monetary policy masks structural problems of member states?

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Answer:
Agree
Confidence level:
Not confident

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Question 1: Do you agree that exceptionally loose monetary policy by the European Central Bank is no longer appropriate?

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Answer:
Disagree
Confidence level:
Very confident
Comment:
With inflation consistently under-shooting the target for more than 3 years now it is really difficult to agree with the German experts. In fact, the inflation survey forecasts (from the ECB website) indicate that inflation will still be below the target (at 1.8%) in five years...

German current account surpluses

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Question 2: Do you agree that the German government should increase public spending given its persistently large current account surplus and given that it is part of the Eurozone?

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Answer:
Agree
Confidence level:
Not confident
Comment:
Yes, but (of course) there is no mechanism to force Germany to do so. The EU Treaty talks about 'corrective' fiscal measures when the deficit exceeds 3% of a country's GDP. There is no similar mechanism in case of a (relatively) big fiscal surplus. This is unfortunate because the IMF expects Germany to be the only EU country which will retain a fiscal surplus by as much as 0.59% of GDP by...2021.

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Question 1: Do you agree that German current account surpluses are a threat to the Eurozone economy?

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Answer:
Neither agree nor disagree
Confidence level:
Confident

Are academic economists ‘in touch’ with voters and politicians?

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Question 4: Voters did not believe the economic arguments put forward (for example, because they thought the arguments put forward by macroeconomists with dissenting views made more sense or because voters have little faith in economists in general).

Do you agree that this was an important reason for a majority of UK voters going against the near unanimous advice of the economics profession?

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Answer:
Agree
Confidence level:
Confident

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