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

Voting history

Should the ECB Reformulate its Inflation Objective?

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?

The Eurozone COVID-19 Crisis: EU Policy Options

Question 1: What is the total size of funding that you would advocate at the EU level in support of its members to weather the COVID-19 crisis this year?

 

 

Answer:
<€700 billion (~5% of EZ GDP): Current committed EU funding is already excessive.
Confidence level:
Very confident
Comment:
Monetary policy is already super active and I am concerned about further government expansion and public debt build up. Both tend to be permanent with deleterious long run effects. Had Italy Germany's level of public debt, it would have not needed much -if any- help from the EU.

Question 2: What is the best mechanism to pay for economic support provided by and to EU member states to combat the COVID-19 crisis?

Answer:
Member states themselves (no additional EU support)
Confidence level:
Very confident
Comment:
I am concerned about the moral hazard problem involved in the calls for solidarity. Some countries have shown little concern for maintaining fiscal space, and when a crisis hit, they want Germany to pick up the bill. This is not a good foundation for building a Union.

Labour Markets and Monetary Policy

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Question 2: Do you agree that, in a period of great uncertainty and after a prolonged period of weak real wage growth, monetary policy makers can afford to wait for greater certainty about real wage developments and building inflationary pressure before raising interest rates?

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Answer:
Agree
Confidence level:
Confident

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