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

Voting history

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Spreading the MPC meeting over seven days seem to me quite a lot and it is likely to make the minutes outdated when new information comes in during that period.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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Question 1: Do you agree that a Syriza victory on 25 January would lead to a significant or sustained escalation in spreads for other peripheral Eurozone countries?

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Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
There might be contagion coming from the outcome of the Greek election but one aspect to keep into account is what the European Central Bank will do at the meeting of the 22nd of January just before the outcome of the election. An aggressive QE program could limit the escalation in spreads.

2014 Autumn Statement

Question 1: Do you agree that the scale of this planned reduction in total managed expenditure is credible?

Answer:
Disagree
Confidence level:
Confident

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