David Cobham's picture
Affiliation: 
Heriot Watt University
Credentials: 
Professor of economics

Voting history

Should the ECB Reformulate its Inflation Objective?

Question 3: Which of the following best reflects your opinion on the following statement? “The ECB should explicitly recognize unemployment and/or economic growth as a secondary aim, secondary to its price stability mandate.”

Answer:
Strongly agree
Confidence level:
Very confident
Comment:
It's important this remains the secondary aim, but explicitly recognising it as such would have positive effects on expectations of policy and on the reputation of the ECB.

Question 2: Would you support increasing the ECB’s inflation target to a higher rate of inflation than the current 2% target?

Answer:
Oppose
Confidence level:
Confident
Comment:
This might have been useful in the immediate aftermath of the financial crisis, but its time has now passed. The instrument problem is relevant here too.

Question 1: Which of the following best reflects your opinion on the following statement? “The ECB should explicitly state that it will allow inflation to temporarily exceed the 2% target following extended periods of low inflation.”

Answer:
Strongly agree
Confidence level:
Very confident
Comment:
But note that there remains an instrument problem: if you say you want inflation higher that may not achieve much on its own unless you have suitable instruments to get you there, and it's really not clear that central banks have such instruments in the current circumstances.

The Economic Cost of School Closures

Question 3: To what extent will school closures increase gender inequality due to unequal gender distribution of the burden of school closures?

Answer:
To a small degree but persistently
Confidence level:
Confident

Question 2: To what extent will school closures increase inequality in human capital development?

Answer:
By a large amount and persistently
Confidence level:
Confident

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