Thorsten Beck's picture
Affiliation: 
Cass Business School
Credentials: 
Professor of Banking and Finance

Voting history

Bitcoin and the City

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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:
Strongly disagree
Confidence level:
Very confident
Comment:
For the moment, crypto-currencies are simply a hype, similar to Dutch tulip bulbs; but as they are not linked to the banking system, there does not seem any immediate stability threat.

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:
Very confident
Comment:
It will affect consumption but also construction sector

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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:
Agree
Confidence level:
Very confident

Global risks from rising debt and asset prices

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Question 2: Is the loose monetary policy of major central banks responsible for the recent increase in global leverage or asset values?

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Answer:
Agree
Confidence level:
Very confident
Comment:
It is the combination of using loose monetary policy (needed given weak growth) and NOT using macro-prudential tools sufficiently to prevent asset prices from overshooting.

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Question 1: Does the world economy face heightened risks arising from an excess of public and private debt and/or inflated asset prices?

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Answer:
Agree
Confidence level:
Very confident
Comment:
There is is still a sovereign debt overhang in several Eurozone countries. There is increasing concern on UK sovereign and private debt levels given increasing uncertainty on Brexit and thus economic performance. Finally, there seems an increasing private debt accumulation in several emerging markets, which is hard to understand given currency and location of this debt.

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