Simon Wren-Lewis's picture
Affiliation: 
University of Oxford
Credentials: 
Professor of economics

Voting history

German current account surpluses

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Question 1: Do you agree that German current account surpluses are a threat to the Eurozone economy?

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Answer:
Strongly agree
Confidence level:
Extremely confident
Comment:
It may be that some of the German current account surplus is structural. However believing that all or even most of the current surplus is structural is pure wishful thinking on the part of some. Instead the surplus represents an undervalued real exchange rate in Germany, which requires more inflation in Germany relative to the rest of the Eurozone. As long as Germany refuses to implement policies to bring this about, it is a threat to the Eurozone because it forces deflation elsewhere.

Are academic economists ‘in touch’ with voters and politicians?

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Question 7: Voters did not know that there was near-unanimity among economists.

Do you agree that this was an important reason for a majority of UK voters going against the near unanimous advice of the economics profession?

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Answer:
Agree
Confidence level:
Confident

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Question 6: Economists did not explain the reasons for this consensus in sufficiently clear language.

Do you agree this was an important reason for a majority of UK voters going against the near unanimous advice of the economics profession?

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Answer:
Disagree
Confidence level:
Confident

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Question 5: Voters think that the preferences of economists do not align with their own preferences. (This includes the possibility that they thought that the predicted negative economic consequences would not affect them personally).

Do you agree this was an important reason for a majority of UK voters going against the near unanimous advice of the economics profession?

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Answer:
Neither agree nor disagree
Confidence level:
Not confident

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Question 4: Voters did not believe the economic arguments put forward (for example, because they thought the arguments put forward by macroeconomists with dissenting views made more sense or because voters have little faith in economists in general).

Do you agree that this was an important reason for a majority of UK voters going against the near unanimous advice of the economics profession?

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Answer:
Disagree
Confidence level:
Not confident

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