Jürgen von Hagen's picture
Affiliation: 
Universität Bonn
Credentials: 
Professor of Economics

Voting history

Labour Markets and Monetary Policy

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Question 2: Do you agree that, in a period of great uncertainty and after a prolonged period of weak real wage growth, monetary policy makers can afford to wait for greater certainty about real wage developments and building inflationary pressure before raising interest rates?

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Answer:
Agree
Confidence level:
Confident

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Question 1: Do you agree that a strong labour market is a good indicator of building inflationary pressure?

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Answer:
Disagree
Confidence level:
Very confident
Comment:
Deunionization, globalization, and migration are no new phenomena. I am more skeptical about central banks' ability to anchor inflation expectations. They promote that view, but, in fact, their anchor - the inflation target - has been much higher than actual inflation for many years now, suggesting that the anchor does not have much credibility.

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:
Strongly disagree
Confidence level:
Very confident
Comment:
What is the point of a privately issued currency regulated by the government? Such currencies are created to avoid the supposed evil effects of government regulation on monetary and financial stability.

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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:
Strongly disagree
Confidence level:
Very confident
Comment:
The financial system is still based on currencies issued by central banks. Cryptocurrencies would become attractive if central bank issued currencies became very unstable. Their wide-spread use in the financial system would be a result not a cause of instability.

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:
Very confident

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