Gianluca Benigno's picture
Affiliation: 
London School of Economics
Credentials: 
Associate Professor in Economics

Voting history

A “new” UK industrial strategy ?

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Question 1: Do you agree that the UK needs a new industrial policy?

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Answer:
Agree
Confidence level:
Confident

German Council of Economic Experts' view of ECB policy

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

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Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
Structural problems in the member states and in particular in the so-called periphery of Europe have been exacerbated by the stance of fiscal policy. Monetary policy is contributing by keeping sovereign yields of countries with high public debt and stagnating conditions at very low level.

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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:
Disagree
Confidence level:
Confident
Comment:
With average unemployment rate of about 10% and inflation still below the target, accommodative policies (not only monetary) are needed.

German current account surpluses

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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?

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Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
It is not obvious to me that an increase in public spending will be reflected in a worsening of the surplus. This depends on how the other component of aggregate demand (consumption and investment) react to the fiscal expansion.

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

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Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
In my opinion the surplus would be a problem from a Eurozone perspective insofar it reflects a shortage of aggregate demand in Germany. Given the current situation of stagnation of the Eurozone the persistency of this surplus can exacerbate the Eurozone's growth problem.

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