Question 2: Which of the following policies is the most desirable to meet the ECBs objective to achieve its mandate of “price stability” as you understand this term.
Answer:
Average inflation targeting
Confidence level:
Confident
Question 1: To what extent do you agree with the following statement? “The European Central Bank should systematically allow for inflation to exceed its target to compensate for periods of below target inflation.”
Proposition 1: The existing fiscal rules for European Monetary Union members require revision.
Answer:
Agree
Confidence level:
Confident
Question 2: Which of the following is the one reform you would choose to improve fiscal rules?
Answer:
Expansion of EU level fiscal capacity for expanded mutual insurance
Confidence level:
Confident
Comment:
A higher degree of co-ordination of fiscal policy at an EU level would also facilitate convergence and increase the effectiveness of euro-area-wide 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:
Monetary policy tools are less effective in addressing financial imbalances than macroprudential tools.
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).
ECB Monetary Policy and Catch-up Inflation
Question 2: Which of the following policies is the most desirable to meet the ECBs objective to achieve its mandate of “price stability” as you understand this term.
Question 1: To what extent do you agree with the following statement? “The European Central Bank should systematically allow for inflation to exceed its target to compensate for periods of below target inflation.”
Fiscal Rules in the European Monetary Union
Proposition 1: The existing fiscal rules for European Monetary Union members require revision.
Question 2: Which of the following is the one reform you would choose to improve fiscal rules?
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.
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