Francesco Giavazzi's picture
Affiliation: 
IGIER, Università Bocconi, Milano
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:
Disagree
Confidence level:
Very confident
Comment:
Loose monetary policy has saved the world and is major responsible for the current widespread growth. Of course, as always in life, there are risks but the BIS should ask itself what the alternative would have been

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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:
Disagree
Confidence level:
Not confident
Comment:
I think we have the tolls to address a problem if one were to arise

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:
Neither agree nor disagree
Confidence level:
Not confident at all

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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 disagree
Confidence level:
Very confident

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:
Confident
Comment:
the question says "no longer appropriate", referring, as I interpret it to current conditions. My answer would have been different had the question referred to "conditions going forward", that is if it was forward looking, say over the next two years

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