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

Voting history

ECB Monetary Policy and Catch-up Inflation

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.”

Answer:
Strongly disagree
Confidence level:
Very confident
Comment:
Another back door to discretion

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:
Inflation targeting
Confidence level:
Very confident

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:

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