Robert Kollmann's picture
Affiliation: 
Université Libre de Bruxelles
Credentials: 
Professor of Economics
Research Fellow, CEPR
PhD, University of Chicago

Voting history

Effects of an embargo on Russian gas

Question 3: By how much would an immediate EU-wide import ban on Russian gas reduce EU GDP growth per annum in 2022-3, in percentage points (pp), absent other policies?

Answer:
Between 1pp and 3pp
Confidence level:
Not confident

Question 2: By how much would an immediate EU-wide import ban on Russian gas reduce German GDP growth per annum in 2022-3, in percentage points (pp), if the government offset the costs with a well-targeted fiscal policy?

Answer:
Between 1pp and 3pp
Confidence level:
Not confident

Question 1: By how much would an immediate EU-wide import ban on Russian gas reduce German GDP growth per annum in 2022-3, in percentage points (pp), absent other policies?

Answer:
Between 1pp and 3pp
Confidence level:
Not confident

ECB Monetary Policy and Catch-up Inflation

Question 2: Which of the following policies is the most desirable to meet the ECBs objective to achieve its mandate of “price stability” as you understand this term.

Answer:
Inflation targeting
Confidence level:
Confident
Comment:
If the natural real interest rate were to change persistently in the future, the ECB would need to adjust its inflation target, at the next "strategy review."

Question 1: To what extent do you agree with the following statement? “The European Central Bank should systematically allow for inflation to exceed its target to compensate for periods of below target inflation.”

Answer:
Disagree
Confidence level:
Confident
Comment:
The proposed "catch-up" rule for inflation is too fuzzy, as the rule does not stipulate how long and by how much inflation would be allowed to exceed its target, after a period of low inflation. This lack of clarity would (further) undermine the credibility of the ECB. The ECB needs simple, transparent and credible rules! The ECB is rightly concerned about the persistent decline in the equilibrium interest rate and the resulting increase in the risk of hitting the interest rate effective lower bound. This concern calls for a permanent increase in the target inflation rate to, say, 2.5% or 3%.

Pages