Michael McMahon's picture
Affiliation: 
University of Oxford
Credentials: 
Professor of Economics

Voting history

Labour Markets and Monetary Policy

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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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Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
I see merit in the arguments for why the Philips curve is hiding. With that in mind, at a time of a weakened relationship, then the extent of the pass through from labour market strength to future inflation will be reduced and with it the quality of indicator that labour market variables play in forecasting inflation.

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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Answer:
Agree
Confidence level:
Confident

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Question 1: Do you agree that cryptocurrencies are currently a threat to the stability of the financial system, or can be expected to become a threat in the next couple of years?

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Answer:
Disagree
Confidence level:
Confident
Comment:
I think it is still too small and lacking in widespread ownership, especially among large investment groups, to be a serious risk to the overall financial system.

House Prices and the UK economy

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Question 2: Do you agree that a more widespread weakening of the UK housing market will slow UK GDP growth significantly?

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Make sure to save each question separately

Answer:
Agree
Confidence level:
Confident

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Question 1: Do you agree that the phenomenon of declining house prices will ripple out from the London property market leading more UK regions to experience falling prices?

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Answer:
Disagree
Confidence level:
Confident
Comment:
The London market is experiencing some idiosyncratic developments. While these could ripple out to a few near-neighbouring areas. However, these are unlikely to be the cause of declines in other parts of the country. Instead, other developments such as a widespread macroeconomic slowdown, or a tightening of credit conditions, would likely cause the more widespread slowdown in the UK housing market.

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