Joseph Pearlman's picture
Affiliation: 
City University London
Credentials: 
Professor of Economics

Voting history

Brexit and financial market volatility

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Question 2: Do you agree that the possibility of Brexit significantly increases uncertainty and volatility in financial markets and the economy in general?

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Answer:
Agree
Confidence level:
Very confident

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Question 1: The value of the pound fell sharply this week. Do you agree that the public debate on Brexit can be expected to (continue to) lead to a substantially higher level of exchange rate volatility in the upcoming months?

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Answer:
Agree
Confidence level:
Very confident

Market Turbulence and Growth Prospects

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Question 2: Do you agree that the falls in share prices, low oil prices and the slowdown in some emerging market economies will have a significant negative impact on the UK’s economic recovery?

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Answer:
Agree
Confidence level:
Very confident
Comment:
Share prices are showing an extreme reaction to recent events, and I would be very surprised if they did not to some extent recover. However the drop in oil prices presages high volatility in the cost of energy over the short to medium term, and such an environment of uncertainty will inevitably lead to lower investment. The weakness of emerging market economies will affect UK export demand, so overall I expect to see increasing problems for the UK's recovery.

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Question 1: Do you agree that economic growth prospects for the global economy have seriously deteriorated?

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Answer:
Agree
Confidence level:
Very confident
Comment:
The enormous level of non-performing loans in China seems now ready to precipitate a reduction in the growth of capital investment there. While I cannot imagine that growth will continue to be anything other than positive there, it is likely soon to drop well below 7%. This will inevitably impact on demand throughout the world, and will lead to lower growth almost everywhere.

Transparency and the Effectiveness of Monetary Policy following the Warsh Review at the Bank of England

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Question 2: Do you agree that the Bank's proposal to release the policy decision, MPC minutes and (once a quarter) the Inflation Report all at the same time justifies a change in the structure of MPC meetings from two consecutive days to a process in which in the MPC meetings are spread out over seven days?
 
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Answer:
Agree
Confidence level:
Confident

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