Francesco Lippi's picture
Affiliation: 
Università di Sassari
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:
Not 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:
Neither agree nor disagree
Confidence level:
Confident
Comment:
Question is ambiguous to me. Relative to when? Also, we could disagree forever on how to measure excessive debts....

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
Comment:
CB independence is useful because monetary policy decisions are for the medium run, an horizon for which the typical policymakers are not well equipped. The CB ex-post accountability ensures the process remains ultimately accountable to the citizens.

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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:
Agree
Confidence level:
Confident
Comment:
When politicians take control of central banks they typically implement more expansionary policies , this i s consistent with expecting higher inflation

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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:
Answering the question requires to forecast political developments in these regions, not an easy task, and one for which I am not qualified professionally.

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