On net, the benefits have outweighed the costs for all countries, although the benefits have not been shared evenly, due to the blatant undesirability of the fiscal policy regime. The Euro is an architecture trapped in midstream. It is however very unlikely that on average the benefits would have been higher if all countries had decided to maintain decentralized monetary policies (unless they had all decided to make their monetary policy "more scientific", meaning: CB independence, inflation targeting, etc..). Yet making their monetary policies simultaneously more scientific would have required a formidable commitment / coordination device, which is precisely what the Euro has provided.
Question 3: More generally, do you agree that it is desirable to maintain central bank independence? Again focus on the near future, say next 48 months.
Question 2: Do you agree that the traditional argument that less central bank independence leads to higher inflation will (still) be relevant over the next 48 months in Western economies?
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 Eurozone COVID-19 Crisis: EU Policy Options
Question 2: What is the best mechanism to pay for economic support provided by and to EU member states to combat the COVID-19 crisis?
Juncker's State of the Union Address
====================================================================
Question 2: Do you agree that the euro has had more benefits than costs?
====================================================================
The Future of Central Bank Independence
====================================================================
Question 3: More generally, do you agree that it is desirable to maintain central bank independence? Again focus on the near future, say next 48 months.
====================================================================
====================================================================
Question 2: Do you agree that the traditional argument that less central bank independence leads to higher inflation will (still) be relevant over the next 48 months in Western economies?
====================================================================
====================================================================
Question 1: Do you agree that central bank independence in the Eurozone and the UK will decline over the next 48 months?
====================================================================
Pages