Jordi Galí's picture
Affiliation: 
CREI, Universitat Pompeu Fabra and Barcelona GSE
Credentials: 
Senior Researcher and Professor

Voting history

The ECB’s Green Agenda

Question 2: Would you support changing the ECB’s mandate to incorporate the EU’s target of carbon neutrality by 2050, if such a change is deemed legally necessary to adopt your preferred approach?

Answer:
No
Confidence level:
Confident

 Question 1: Which of the following actions is the most advisable approach for European Central Bank to address the environmental impact of its bond-purchasing policies?

Answer:
Aiming for market neutrality
Confidence level:
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:
Not confident
Comment:
I do not see any reason to believe the forces behind innovation and, hence, potential growth, will be much different after the pandemic, one way or another.

The Eurozone COVID-19 Crisis: EU Policy Options

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:
Monetary finance
Confidence level:
Confident
Comment:
This is the only financing approach that would not imply a rise in members' debt ratios, already too high in many cases. The eventual inflationary consequences would be spread gradually over time, and could be detected early and counteracted if needed.

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
Comment:
But it would be a mistake to wait too long and be forced to increase rates too rapidly.

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