Question 2: Do you agree that quantitative well-being analysis should play an important role in guiding policy makers in determining macroeconomic policies?
Question 3: More generally, do you agree that it is desirable to maintain central bank independence? Again focus on the near future, say next 48 months.
Question 2: Do you agree that the traditional argument that less central bank independence leads to higher inflation will (still) be relevant over the next 48 months in Western economies?
Expectations about increases in fiscal policy can overturn disinflationary pressures. News about fiscal policy can actually increase demand even when the central bank maintains its independence. Previous research I have conducted using different methodologies to identify news shocks about fiscal policy, with Markus Brueckner, “News Shocks in the Data: Olympic Games and Their Macroeconomic Effects,” and with Nadav Ben Zeev “Chronicle of a War Foretold: The Macroeconomic Effects of Anticipated Defense Spending Shocks”, shows exactly that! Even when we control for monetary policy, news about increases in defense spending induces significant and persistent increases in output, hours worked, inflation and the interest rate, and significant increases in investment and consumption. If one can take Trump's announcements seriously, should expect increases in inflation in the US that would be driven by news about active fiscal policy and non loss of central bank's independence.
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).
Happiness and well-being as objectives of macro policy
====================================================================
Question 2: Do you agree that quantitative well-being analysis should play an important role in guiding policy makers in determining macroeconomic policies?
A “new” UK industrial strategy ?
====================================================================
Question 2: Do you agree that the UK needs a new regional policy?
====================================================================
The Future of Central Bank Independence
====================================================================
Question 3: More generally, do you agree that it is desirable to maintain central bank independence? Again focus on the near future, say next 48 months.
====================================================================
====================================================================
Question 2: Do you agree that the traditional argument that less central bank independence leads to higher inflation will (still) be relevant over the next 48 months in Western economies?
====================================================================
German Council of Economic Experts' view of ECB policy
====================================================================
Question 2: Do you agree that the ECB's monetary policy masks structural problems of member states?
====================================================================
Pages