David Cobham's picture
Affiliation: 
Heriot Watt University
Credentials: 
Professor of economics

Voting history

Secular Stagnation

Question 2: Do you think that current structural and fiscal policies should place a considerably greater emphasis on pushing the natural rate into positive territory?

Answer:
Agree
Confidence level:
Confident

Question 1: Do you agree- making your own definition of secular stagnation clear if you disagree with that offered here- that it is more likely than not that the advanced Western economies have entered into a period of secular stagnation?

Answer:
Agree
Confidence level:
Not confident

Migration and the UK economy August 2014

Question 1: Do you agree that migration to the UK can be expected to be beneficial for the average income of current UK inhabitants in the upcoming decade?

Answer:
Agree
Confidence level:
Not confident
Comment:
Any effect on average incomes will be very small.

Question 2: Do you agree that current government policies with respect to non-EU migration (including policies on students, skilled workers, and family migration) are effective in maximizing the gains to the economy from migration while minimizing any possible negative impact to specific groups?

Answer:
Disagree
Confidence level:
Confident
Comment:
The policies are a politically- and PR-driven mess.

UK House Prices and Macro-Prudential Policy July 2014

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Question 2: When housing-related risk is deemed excessive from the viewpoint of financial stability, do you agree that the correct response is to deploy macro-prudential tools, leaving interest rates focused on the needs of inflation and aggregate real activity?

 
Answer:
Disagree
Confidence level:
Very confident
Comment:
Macroprudential tools are untried and untested, while we think we know what we are doing with interest rates, so they should be kept as a backstop to act against asset price rises if the macroprudential tools turn out not to work well. More importantly, the Bank of England should commit (should already have committed) to use interest rates in this way if necessary, so that the knowledge of that feeds into asset price expectations and therefore outcomes.

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