Question 2: Relative to the public spending plans at the beginning of the year, the UK government should respond by:
Answer:
Increasing public spending, but less than inflation
Confidence level:
Confident
Comment:
This is a diffcult question to answer as set out. Public spending should go up but in particular places - some benefits, support for health and social care, and schools. Local authority settlements will probably need another look. But some items mey merit tight control - pace of some capital spend for example.
Question 1: Relative to the Bank of England’s planned trajectory for interest rates at the beginning of the year, the Bank should respond to geopolitical events by:
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 Impact of the Russian Invasion of Ukraine on the UK Economy
Question 2: Relative to the public spending plans at the beginning of the year, the UK government should respond by:
Question 1: Relative to the Bank of England’s planned trajectory for interest rates at the beginning of the year, the Bank should respond to geopolitical events by:
Surging Inflation in the UK
Question 2: Will the inflation surge of 2021 prove persistent?
Question 1: Which of the following factors is the primary reason for the rise in inflation in 2021?
Towards a High-Wage, High-Productivity Economy
Question 2: What is your evaluation of the following statement: “A well-designed government-stipulated wage increase can lead to higher productivity”?
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