Costas Milas's picture
Affiliation: 
University of Liverpool
Credentials: 
Professor of Economics

Voting history

Towards a High-Wage, High-Productivity Economy

Question 2: What is your evaluation of the following statement: “A well-designed government-stipulated wage increase can lead to higher productivity”?

Answer:
Disagree
Confidence level:
Confident
Comment:
As (joint) work of mine (https://blogs.lse.ac.uk/politicsandpolicy/brexit-and-the-productivity-puzzle/) discusses, productivity and (real) wage increases take place through lower business investment uncertainty.

Question 1: Which of the following statements most closely reflects your understanding of the relationship between productivity and wages.

Answer:
No opinion or other
Confidence level:
Confident
Comment:
Productivity is the main driver of wage increases and then there is some subsequent feedback from higher wages on productivity.

Post-Covid Fiscal Rules for the UK

Question 3: Which of the following variables should fiscal rules target to best improve the performance of the UK macroeconomic policy going forward.

Answer:
Public deficit
Confidence level:
Confident
Comment:
It makes sense to keep the public deficit-to-GDP ratio "manageable". I wouldn't recommend a particular threshold because there might be circumstances that this threshold might have to be relaxed.

Question 2: What impact has the sequence of fiscal rules adopted in the UK since 1997 had on the conduct of fiscal policy in the UK?

Answer:
Neither improved nor harmed
Confidence level:
Confident

Question 1:  What impact has the sequence of fiscal rules adopted in the UK since 1997 had on the level of UK public debt? 

Answer:
No impact
Confidence level:
Confident

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