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

Voting history

The Importance of Elections for UK Economic Activity

Question 2: Do you agree that the outcome of the general election will have non-trivial consequences for aggregate economic activity (employment and GDP)?

Answer:
Agree
Confidence level:
Confident

Question 1: Do you agree that the austerity policies of the coalition government have had a positive effect on aggregate economic activity (employment and GDP) in the UK?

Answer:
Disagree
Confidence level:
Not confident
Comment:
it is hard to disentangle the effects of an individual policy measure. The coalition government run a fiscal contraction in 2010 and 2011 and then reduced the pace of the fiscal contraction from 2012. The reduction in the pace of the contraction, along with expansionary monetary policy and international factors that have kept interest rates low in the UK, could explain the recent recovery of the UK economy and its better relative performance.

Transparency and the Effectiveness of Monetary Policy following the Warsh Review at the Bank of England

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Question 2: Do you agree that the Bank's proposal to release the policy decision, MPC minutes and (once a quarter) the Inflation Report all at the same time justifies a change in the structure of MPC meetings from two consecutive days to a process in which in the MPC meetings are spread out over seven days?
 
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Answer:
Disagree
Confidence level:
Confident
Comment:
Spreading the MPC meeting over seven days seem to me quite a lot and it is likely to make the minutes outdated when new information comes in during that period.
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Question 1: Do you agree that the simultaneous release of the policy decision, the enhanced minutes (including the voting record) of the MPC meeting and (in the relevant months) the release of the Inflation Report will facilitate inference on the likely stance of monetary policy?
 
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Answer:
Disagree
Confidence level:
Not confident
Comment:
the simultaneous release of the enhanced minutes and Inflation Report might contain too much information.

Greece’s elections and the future of the Eurozone

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Question 2: Do you agree that refusal of the core EU countries to a renegotiation of the Greek bailout agreements would carry serious risks for the economic well-being of the Eurozone?

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Answer:
Agree
Confidence level:
Confident
Comment:
Given the trajectory of Greek public debt, renegotiation of the bailout agreement seems to me a sensible option. The risk is to underestimate the financial consequences for the Euro of a unilateral decision of a country to exit the system. While the cost of this decision are higher from a Greek perspective, financial linkages among Eurozone countries could amplify its effect and lead to financial turmoil.

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