Affiliation: 
University of Oxford
Credentials: 
Associate Professor

Voting history

Monetary Policy and Inequality

Question 1: How large is the impact of monetary policy on the joint distribution of income and wealth?

Answer:
Large
Confidence level:
Confident
Comment:
I would have said medium but it was not among the options.

Question 2: What role should inequality play in the monetary policy decisions (interest rate policy and quantitative easing)?

Answer:
Minimal role
Confidence level:
Very confident
Comment:
I would prefer the fiscal authority to tackle income and wealth inequality.

Asset Prices and Monetary Policy

Proposition 2: Asset prices and financial imbalances are best addressed using macroprudential tools and left out of the monetary policy decision making process.

 

Answer:
Agree
Confidence level:
Very confident
Comment:
Using more unconventional tools can expand the instruments of the central bank. Therefore, it is going to be easy to achieve the target.

Proposition 1: The Bank of England’s mandate should be officially modified to take housing or other asset prices into account in its monetary policy decisions.

Answer:
Neither agree nor disagree
Confidence level:
Very confident
Comment:
From one side, if we increase the number of targets, it is going to be difficult for the central bank to achieve them. On the other side, housing is extremely important for households and demand stabilization. However, the same target can be achieved with some unconventional tools, like macroprudential policies.

Should We Worry About Post-Covid Inflation?

Question 2: Which of the following will be the greatest inflationary (or deflationary) force facing the UK economy?

Answer:
Global factors
Confidence level:
Confident
Comment:
The UK is an open economy, therefore what happens in the rest of the world is very important.

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