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.
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?
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).
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?
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?
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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Question 1: Do you agree that a strong labour market is a good indicator of building inflationary pressure?
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Bitcoin and the City
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Question 2: Do you agree that the regulatory oversight of cryptocurrencies needs to be increased?
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