David Miles's picture
Affiliation: 
Imperial College
Credentials: 
Professor of economics

Voting history

A “new” UK industrial strategy ?

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Question 2: Do you agree that the UK needs a new regional policy?

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Answer:
Disagree
Confidence level:
Confident
Comment:
Devolution of some tax setting and spending decisions makes sense. But I do not think one should call this regional policy and if we exclude it then I am doubtful that something called a "new regional policy" will be very successful.

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Question 1: Do you agree that the UK needs a new industrial policy?

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Answer:
Disagree
Confidence level:
Confident
Comment:
The UK has a woeful history of government initiatives on industrial policy. While there are good economic reasons to think that externalities and missing markets can, in theory, create a role for efficiency enhancing "industrial policy", there is a lot of empirical evidence that in the UK there is not the institutional capability to deliver any gains.

The Future of Central Bank Independence

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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:
Disagree
Confidence level:
Not confident
Comment:
For the next 48 months I suspect inflation will remain relatively low - probably nearer central bank targets than over the past 48 months, and in some countries a but above it, but probably not in a region that could be called a problem area.

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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:
Not confident
Comment:
. I think that some of what appear to be criticisms of central banks is not so much a threat to their independence but more a questioning of the goals they are set. Those goal are generally set by governments. That distinction is obviously important.

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:
Confident

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