Ugo Panizza's picture
Affiliation: 
The Graduate Institute, Geneva (HEID)
Credentials: 
Pictet Chair and Professor of Economics

Voting history

Post Covid-19 Potential Output in the Eurozone

Question 2: How much lower will the potential growth rate of GDP in the Eurozone in 2025 be due to Covid-19 relative to pre-Covid forecasts?

 

Answer:
No different
Confidence level:
Not confident
Comment:
I don't think that there will be long-term negative effect on growth, but not confident.

Question 1: How much lower will the potential level of GDP in the Eurozone in 2025 be due to Covid-19 relative to pre-Covid forecasts?

 

Answer:
Between 2% and 5%
Confidence level:
Not confident
Comment:
My guess is that medium-long term growth will go back to pre-COVID. It will be substantially higher in 2021-2022, but not high enough to compensate for output lost in 2020. There is massive uncertainty and probably substantial cross-country variation

Should the ECB Reformulate its Inflation Objective?

Question 3: Which of the following best reflects your opinion on the following statement? “The ECB should explicitly recognize unemployment and/or economic growth as a secondary aim, secondary to its price stability mandate.”

Answer:
Agree
Confidence level:
Confident

Question 1: Which of the following best reflects your opinion on the following statement? “The ECB should explicitly state that it will allow inflation to temporarily exceed the 2% target following extended periods of low inflation.”

Answer:
Agree
Confidence level:
Very confident

Question 2: Would you support increasing the ECB’s inflation target to a higher rate of inflation than the current 2% target?

Answer:
Support
Confidence level:
Not confident

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