Thorsten Beck's picture
Affiliation: 
Cass Business School
Credentials: 
Professor of Banking and Finance

Voting history

Bitcoin and the City

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Question 2: Do you agree that the regulatory oversight of cryptocurrencies needs to be increased?

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Answer:
Neither agree nor disagree
Confidence level:
Very confident
Comment:
As long as banks (or other financial intermediaries under the implicit financial safety net) are not directly connected to this market (and they should not given the nature of crypto-currencies as speculative investment), there is no need for regulatory oversight. On the other hand, regulators should carefully watch the development, if crypt-currencies are increasingly used by the financial system and/or if crypto-currency trading entities become more closely linked to institutions within the regulatory perimeter. So, no immediate regulatory need, but careful monitoring of "this space".

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Question 1: Do you agree that cryptocurrencies are currently a threat to the stability of the financial system, or can be expected to become a threat in the next couple of years?

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Answer:
Strongly disagree
Confidence level:
Very confident
Comment:
For the moment, crypto-currencies are simply a hype, similar to Dutch tulip bulbs; but as they are not linked to the banking system, there does not seem any immediate stability threat.

House Prices and the UK economy

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Question 2: Do you agree that a more widespread weakening of the UK housing market will slow UK GDP growth significantly?

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Make sure to save each question separately

Answer:
Agree
Confidence level:
Very confident
Comment:
It will affect consumption but also construction sector

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Question 1: Do you agree that the phenomenon of declining house prices will ripple out from the London property market leading more UK regions to experience falling prices?

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Answer:
Agree
Confidence level:
Very confident

Global risks from rising debt and asset prices

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Question 2: Is the loose monetary policy of major central banks responsible for the recent increase in global leverage or asset values?

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Answer:
Agree
Confidence level:
Very confident
Comment:
It is the combination of using loose monetary policy (needed given weak growth) and NOT using macro-prudential tools sufficiently to prevent asset prices from overshooting.

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