Francesco Lippi's picture
Affiliation: 
Università di Sassari
Credentials: 
Professor of Economics

Voting history

Bitcoin and the City

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Question 2: Do you agree that the regulatory oversight of cryptocurrencies needs to be increased?

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Answer:
Disagree
Confidence level:
Confident
Comment:
None of the arguments reviews above proves more regulation is desirable, nor that it would be effective.

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Question 1: Do you agree that cryptocurrencies are currently a threat to the stability of the financial system, or can be expected to become a threat in the next couple of years?

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Answer:
Disagree
Confidence level:
Confident
Comment:
I agree with the ECB analysis that the overall volume of trades is too small to matter. The development of derivative markets based on cryptocurrencies might affect the stability of their prices either way (e.g. creating a market to absorb bursts in demand for a fixed supply factor (e.g. bitcoin) might stabilize its price).

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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