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

Voting history

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?

Answer:
Expanded EU budget (with possible borrowing at the EU level)
Confidence level:
Confident
Comment:
If done well an expanded EU budget will promote integration and allow for more risk-sharing down the road and possibly the creation of pan-EU unemployment insurance mechanism

Question 1: What is the total size of funding that you would advocate at the EU level in support of its members to weather the COVID-19 crisis this year?

 

 

Answer:
5-10% of GDP
Confidence level:
Confident
Comment:
It would be good to make sure that each country can implement a stimulus of at least 10% of GDP. This would require less than 10% of GDP at the European level as some countries have ample domestic fiscal space and would not require much from the EU.

Bitcoin and the City

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Question 2: Do you agree that the regulatory oversight of cryptocurrencies needs to be increased?

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Answer:
Agree
Confidence level:
Confident
Comment:
because of the money laundering tax evasion implications not because of the monetary policy argument (I don't think cryptocurrencies will reduce the effectiveness of monetary policy)

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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:
Confident
Comment:
Currently they are too small to pose any systemic risk, and they are unlikely to reach a dimension that would make them a source of concern in the next couple of years.

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:
Disagree
Confidence level:
Not confident

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