Question 2: What is your evaluation of the following statement: “A well-designed government-stipulated wage increase can lead to higher productivity”?
Answer:
Agree
Confidence level:
Very confident
Comment:
Productivity - average productivity that is - will inrease because workers whose real productivity falls below the new real wage level (adding on taxes, NI etc) will cease to be workers. Low productivity jobs will go, to be replaced by unemployed workers with a productivity of ...zero. Additionally, facing higher wages, firms may invest more to raiseproductivity.
Question 1: Which of the following statements most closely reflects your understanding of the relationship between productivity and wages.
Answer:
Wage increases can in some cases increase long-run productivity
Question 3: Which of the following variables should fiscal rules target to best improve the performance of the UK macroeconomic policy going forward.
Answer:
Public deficit
Confidence level:
Extremely confident
About the CFM Surveys
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).
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”?
Question 1: Which of the following statements most closely reflects your understanding of the relationship between productivity and wages.
Post-Covid Fiscal Rules for the UK
Question 3: Which of the following variables should fiscal rules target to best improve the performance of the UK macroeconomic policy going forward.