Harris Dellas's picture
Affiliation: 
University of Bern
Credentials: 
Professor of Economics

Voting history

Post Covid-19 Potential Output in the Eurozone

Question 2: How much lower will the potential growth rate of GDP in the Eurozone in 2025 be due to Covid-19 relative to pre-Covid forecasts?

 

Answer:
No different
Confidence level:
Very confident

Question 1: How much lower will the potential level of GDP in the Eurozone in 2025 be due to Covid-19 relative to pre-Covid forecasts?

 

Answer:
No different
Confidence level:
Very confident
Comment:
Covid-19 is the latest addition to a very long list of things (that started with the endogenous growth literature) that are supposed to affect the natural level of output/average rate of growth.In reality these two have proved very insensitive to many many plausible shifters. I am skeptical that any of the channels suggested in the Covid 19 literature has any long term quantitative bite.

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 disagree
Confidence level:
Very confident
Comment:

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

Answer:
Strongly oppose
Confidence level:
Extremely confident
Comment:
Back to the 70s!

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 disagree
Confidence level:
Very confident
Comment:
I see risks (more discretion) and no benefits. Is there any serious research indicating that such asymmetry has compromised anything good?

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