Luigi Guiso's picture
Affiliation: 
Einaudi Institute for Economics and Finance (EIEF)
Credentials: 
Professor of Economics

Voting history

German Council of Economic Experts' view of ECB policy

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Question 2: Do you agree that the ECB's monetary policy masks structural problems of member states?

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Answer:
Strongly disagree
Confidence level:
Very confident
Comment:
There are member states that undoubtedly have serious structural problems; monetary policy is nether masking nor delaying those problems. The truth is that the solution to those structural problems are totally independent of the monetary policy regime. They depend on deeper features of those countries, not last their institutional design and ability to cope with political economy problems.

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Question 1: Do you agree that exceptionally loose monetary policy by the European Central Bank is no longer appropriate?

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Answer:
Strongly disagree
Confidence level:
Extremely confident
Comment:
many countries in the area are still under risk of deflation; the economic outlook of the area as a whole is still gloomy and economy recovery too weak to reverse policy interest rates and abandon quantitative easing