Martin Ellison's picture
Affiliation: 
University of Oxford
Credentials: 
Professor of economics

Voting history

Secular Stagnation

Question 2: Do you think that current structural and fiscal policies should place a considerably greater emphasis on pushing the natural rate into positive territory?

Answer:
Agree
Confidence level:
Confident

Question 1: Do you agree- making your own definition of secular stagnation clear if you disagree with that offered here- that it is more likely than not that the advanced Western economies have entered into a period of secular stagnation?

Answer:
Agree
Confidence level:
Confident

Migration and the UK economy August 2014

Question 2: Do you agree that current government policies with respect to non-EU migration (including policies on students, skilled workers, and family migration) are effective in maximizing the gains to the economy from migration while minimizing any possible negative impact to specific groups?

Answer:
Disagree
Confidence level:
Confident
Comment:
I do not have great confidence in the government being able to identify which immigrants would be most beneficial to the UK economy. Past experience with governments attempting to pick “champion” industries to support through subsidies and tax breaks has been disappointing, and there is little reason to believe that the government would be any better picking “champion” people to allow into the UK either. Another problem is the bureaucratic burden behind a selective system. Current policy with regard to entry visas for non-EU students is a good example, with many of our best universities reporting problems obtaining visas for very bright students.

Question 1: Do you agree that migration to the UK can be expected to be beneficial for the average income of current UK inhabitants in the upcoming decade?

Answer:
Strongly Agree
Confidence level:
Very confident
Comment:
Migrants entering the UK are typically young, healthy and wanting to work. Whilst there may be problems of displacement in specific sectors or specific geographical areas, the overall picture is of increased average income due to incoming migrants. The ‘lump of labour fallacy’ tells us that the number of jobs is not fixed so, rather than take jobs from natives, the immigration increases the overall number of jobs.

UK House Prices and Macro-Prudential Policy July 2014

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Question 2: When housing-related risk is deemed excessive from the viewpoint of financial stability, do you agree that the correct response is to deploy macro-prudential tools, leaving interest rates focused on the needs of inflation and aggregate real activity?

 
Answer:
Neither agree nor disagree
Confidence level:
Confident

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