Question 2: Which of the following would have the second greatest impact in mitigating the economic effects of the coronavirus economic crisis in the UK?
Answer:
Making unemployment benefits more generous, streamlined, or comprehensive
Question 2: Which of the following was the second most important cause for the slowdown in UK productivity growth?
Answer:
Labour market factors
Confidence level:
Confident
Comment:
UK has had very poor wage growth as result of low productivity growth. If wage growth was stronger (as in other countries), measured labor productivity growth would be higher (but this would not be desirable).
Question 1: Which of the following was the most important cause for the slowdown in UK productivity growth?
Answer:
Low demand (including due to the financial crisis, austerity policies, or Brexit)
Confidence level:
Confident
Comment:
Confident that this is one factor, but there are many: global slowdown http://cep.lse.ac.uk/pubs/download/dp1496.pdf; financial frictions http://cep.lse.ac.uk/pubs/download/dp1672.pdf. Long-term failure to invest in human capital & infrastructure
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 main point is that Brexit will cause a fall in real incomes relative to remaining in the EU. This will cause both a fall in consumption and house prices (relative to trend). The problem is not house prices per se, but the underlying structural causes. Brexit will lead to lower trade, FDI and immigration dampening growth. London and South East have high house prices because of a lack of supply (due mainly to poor planning regulations).
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).
Covid-19: Economic Policy Response
Question 2: Which of the following would have the second greatest impact in mitigating the economic effects of the coronavirus economic crisis in the UK?
The UK Productivity Puzzle
Question 2: Which of the following was the second most important cause for the slowdown in UK productivity growth?
Question 1: Which of the following was the most important cause for the slowdown in UK productivity growth?
Labour Markets and Monetary Policy
======================================================================
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?
======================================================================
House Prices and the UK economy
======================================================================
Question 2: Do you agree that a more widespread weakening of the UK housing market will slow UK GDP growth significantly?
======================================================================
Make sure to save each question separately
Pages