Kate Barker's picture
Affiliation: 
Senior Adviser to Credit Suisse
Credentials: 
former member of the Bank of England Monetary Policy Committee

Voting history

Happiness and well-being as objectives of macro policy

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Question 2: Do you agree that quantitative well-being analysis should play an important role in guiding policy makers in determining macroeconomic policies?

 
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Answer:
Agree
Confidence level:
Very confident
Comment:
This is now a very connected world, in which discontent can become more apparent. Policymakers need to be more alive to the issues which are really disturbing citizens and localities. These surveys may help, and may guide not so much macroeconomic policies but the micropolicies of tax and spatial issues.

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Question 1: Do you agree that subjective well-being measures, or at least some of the subindices from the typical survey measures, are now reliable enough to give useful insights when used in macroeconomic empirical analysis?

 
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Answer:
Disagree
Confidence level:
Very confident
Comment:
In the UK at least, we have not enough track record of some of these surveys to make use of them adequately to assess the impact of economic shocks or policy changes. However, it would be useful for this to develop, and this purpose strongly to inform the development of the surveys.

A “new” UK industrial strategy ?

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Question 2: Do you agree that the UK needs a new regional policy?

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Answer:
Strongly agree
Confidence level:
Extremely confident
Comment:
The EU referendum and the recent data on productivity gaps suggest that the regional issues, while intractable, need to be given much more energy and resource.

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

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Answer:
Strongly agree
Confidence level:
Very confident
Comment:
Industrial sounds a bit old hat - but yes, I do think the UK government needs to work out how to be collaborative with industry in several sectors. And we have to not fret over every mistake!

The Future of Central Bank Independence

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Question 2: Do you agree that the traditional argument that less central bank independence leads to higher inflation will (still) be relevant over the next 48 months in Western economies?

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Answer:
Disagree
Confidence level:
Confident
Comment:
It's hard to know how far labour market behaviour has changed, and would change again if central banks are less independent. But my view is that the changes in labour markets are not related to central bank independence.

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