Robert Kollmann's picture
Affiliation: 
Université Libre de Bruxelles
Credentials: 
Professor of Economics
Research Fellow, CEPR
PhD, University of Chicago

Voting history

Happiness and well-being as objectives of macro policy

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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:
I am not convinced that, for macroeconomic analysis, subjective well-being measures add significant and reliable information to data on income, consumption and employment. There are immense (and growing) shortcomings in the measurement of the most basic macroeconomic variables (GDP, prices, capital stocks, productivity). The top priority should be to address those shortcomings (this will require a drastic increase in funding for statistical agencies).

The Future of Central Bank Independence

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Question 3: More generally, do you agree that it is desirable to maintain central bank independence? Again focus on the near future, say next 48 months.

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Answer:
Agree
Confidence level:
Confident

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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:
Agree
Confidence level:
Confident

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Question 1: Do you agree that central bank independence in the Eurozone and the UK will decline over the next 48 months?

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Answer:
Disagree
Confidence level:
Confident

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:
Neither agree nor disagree
Confidence level:
Confident
Comment:
Accommodating ECB monetary policy may reduce the incentive to address structural problems. However, ECB policy does not mask the structural problems, as these problems seem so obvious. The ECB has persistently insisted on the need for structural reforms.

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