John VanReenen's picture
Affiliation: 
London School of Economics
Credentials: 
Professor of economics
Director of Centre for Economic Performance

Voting history

Market Turbulence and Growth Prospects

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Question 1: Do you agree that economic growth prospects for the global economy have seriously deteriorated?

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Answer:
Strongly Disagree
Confidence level:
Confident

Autumn Statement & Charter for Budgetary Responsibility

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Question 2: Do you agree that the Charter for Budgetary Responsibility is helpful in underpinning the credibility of fiscal policy?

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Answer:
Strongly Disagree
Confidence level:
Extremely confident
Comment:
See answers to previous question. The obsession with public debt is very harmful to sensible policy making. We need to consider the assets side of the balance sheet, not simply the debt side. Credibility is not enhanced by setting such targets or having silly laws that can be revoked when needed. At best it leads to financing gimmickry with the public accounts (e.g. manipulating the timing of sales and recording of public assets), at worst it leads to premature austerity and serious reductions in growth and welfare (as occurred in 2010-120.

China’s growth slowdown: likely persistence and effects

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Question 2:

Do you agree that if the Chinese slowdown turns out to be persistent, it will have a significant impact on UK growth (say, in the order of a few tenths of a percentage point) and/or it will justify a material change in monetary policy (for example, in terms of the timing and speed of a return to ‘normal’ interest rates) and fiscal policy (for example, in terms of the timing and speed of fiscal contraction).

Answer:
Disagree
Confidence level:
Confident

ECB's quantitative easing

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Question 2:

Do you agree that the structure of the ECB's QE programme makes the Eurozone more fragile and increases the risk of one country leaving the euro?

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Answer:
Disagree
Confidence level:
Not confident

Deal or no deal: The Greece standoff

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Question 3: Do you agree that implementation of the agreement will lead to an expected decrease in Greek debt repayments?

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Answer:
Disagree
Confidence level:
Not confident
Comment:
Greek debt needs to be restructured as it is unsustainable. But it also needs structural on pensions, tax collection, flexibility in labour and product markets, etc.

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