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.
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?
The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.
The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).
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”?
Question 1: Which of the following statements most closely reflects your understanding of the relationship between productivity and wages.
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.
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?
Question 1: What impact has the sequence of fiscal rules adopted in the UK since 1997 had on the level of UK public debt?
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