Fabrizio Coricelli's picture
Affiliation: 
Paris School of Economics
Credentials: 
Professor of Economics

Voting history

Global risks from rising debt and asset prices

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Question 2: Is the loose monetary policy of major central banks responsible for the recent increase in global leverage or asset values?

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Answer:
Agree
Confidence level:
Confident

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Question 1: Does the world economy face heightened risks arising from an excess of public and private debt and/or inflated asset prices?

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Answer:
Agree
Confidence level:
Confident

Juncker's State of the Union Address

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Question 2: Do you agree that the euro has had more benefits than costs?

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Answer:
Disagree
Confidence level:
Not confident
Comment:
Hard to find a relevant counterfactual. Moreover, we lack good analytical work to assess the benefits and costs of the eurozone. 60 years after Mundell's contribution on currency areas, the profession has made little progress on the topic. Not surprising, if we consider that most contemporary macroeconomics relates to closed economy models calibrated or estimated on US data. Moreover, hard to disentangle the effects of the common currency from the effects of the specific, and potentially flawed, architecture of the euro.

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Question 1; Do you agree that euro membership should be compulsory for all EU member states?

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Answer:
Strongly agree
Confidence level:
Very confident
Comment:
As the EU is meant to provide a framework for full economic integration, it makes little sense to have some EU members outside the euro. This differentiation potentially puts in motion disintegration forces. However, an ill designed euro may be a powerful force for disintegration as well.

Wages and economic recoveries

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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:
Disagree
Confidence level:
Very confident
Comment:
I believe that the different behavior of inflation played a key role.

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