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

Voting history

German Council of Economic Experts' view of ECB policy

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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:
Strongly disagree
Confidence level:
Very confident
Comment:
Economic growth in the Eurozone continues to be below the level required to return to the trend output path, let alone recoup the losses experienced since 2010. Monetary policy can and should continue to contribute to growth, but it needs to be accompanied by some serious contraclyclical fiscal policy. The call for more and more structural reform (together with a refusal to consider inequality and poverty issues) is likely to be self-defeating. Overall, the GCEE report is a disappointing rerun of the same old diagnoses and policy recommendations which have already done so much damage to the Eurozone economy. The GCEE should think deeply about the failure of its policy recommendations to date, and should take more account of welfare in the non-German economies.

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:
Confident

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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:
Agree
Confidence level:
Confident

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

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Question 7: Voters did not know that there was near-unanimity among economists.

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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Question 6: Economists did not explain the reasons for this consensus in sufficiently clear language.

Do you agree 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:
Strongly agree
Confidence level:
Very confident

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