Fabio Canova's picture
Affiliation: 
BI Norwegian School of Management
Credentials: 
Professor of Economics

Voting history

The Future of Central Bank Independence

====================================================================

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?

====================================================================

Answer:
Agree
Confidence level:
Very confident

German Council of Economic Experts' view of ECB policy

====================================================================

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

====================================================================

Answer:
Disagree
Confidence level:
Confident
Comment:
Structural problems are present regardless of what the ECB does. ECB policies have helped to reestablish normal lending conditions. Do nto see in what why the mask problems

====================================================================

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

====================================================================

Answer:
Strongly disagree
Confidence level:
Very confident
Comment:
My personal estimates is that without the measures inflation would be between 0.6 and 1% lower than what it is now and output about 0.5-0.8 % lower. I do not see any upturn or growth happening yet.

German current account surpluses

====================================================================

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?

====================================================================

 

Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
Not clear that German public spending will drive euro area economies up - trade channel of fiscla policy transmisison is quite negligible. Spillovers were small in the past, it is hard to see how they will be become large now

====================================================================

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

====================================================================

Answer:
Disagree
Confidence level:
Confident
Comment:
Surpluses are with the rest of the world, not so much with euro area members. However, since they come at the cost of other euro area countries loosing market shares in world markets (because of aggressive price policies of german companies), some redistribution of the gains seem reasonable.