Evi Pappa's picture
Affiliation: 
European University institute
Credentials: 
Professor of Economics

Voting history

Wages and economic recoveries

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Question 1: Do you agree that lower real wage growth was beneficial for employment levels during the Great Recession?

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Answer:
Disagree
Confidence level:
Confident
Comment:
I have some objections about Germany here. A distinctive feature of Germany’s recession experience was that unemployment hardly increased. Also competition-weighted unit labor cost in Germany have been very low even before the recession started and many economists attribute the small increase in unemployment to this factor. In general, wage flexibility per se is a necessary but not a sufficient condition for recovery, labor market flexibility is key.

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Question 2: Do you agree that the different behaviour of UK real wages relative to Eurozone wages during the Great Recession is in large part due to the UK having different labour market policies?

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Answer:
Agree
Confidence level:
Confident
Comment:
The UK labor market institutions are pretty flexible and this might have helped the recovery. I would attribute more to institutions and less to policies though.

Happiness and well-being as objectives of macro policy

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Question 2: Do you agree that quantitative well-being analysis should play an important role in guiding policy makers in determining macroeconomic policies?

 
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Answer:
Disagree
Confidence level:
Not confident

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:
Agree
Confidence level:
Confident

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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