Wouter Den Haan's picture
Affiliation: 
London School of Economics
Credentials: 
Professor of economics

Voting history

Monetary Policy and Inequality

Question 2: What role should inequality play in the monetary policy decisions (interest rate policy and quantitative easing)?

Answer:
Minimal role
Confidence level:
Confident
Comment:
Since we still do not quite understand the role of monetary policy on inequality very well, it doesn't make sense to give it a substantive role. Nevertheless, I would think it important that policy makers stay alert to the consequences of their actions on this very important economic indicator.

Question 1: How large is the impact of monetary policy on the joint distribution of income and wealth?

Answer:
Large
Confidence level:
Not confident
Comment:
To be precise, monetary policy CAN have a large impact on inequality but then I am thinking of sustained quantitative easing that we have seen since the financial crisis.

Central Bank Digital Currency for the UK

Question 2: What effect will the introduction of a CBDC have on UK banks?

Answer:
No or little effect
Confidence level:
Not confident
Comment:
The transition towards a system in which banks rely less deposits will have some costs, but surely it will be a better system with less distortions when banks' lending occurs less with funding like deposits that seem cheap to banks but that come with a nontrivial social cost in the form of financial instability.

Question 1: How beneficial would it be to the UK economy for the Bank of England to introduce a central bank digital currency in some form in the upcoming decade?

 

Answer:
Beneficial
Confidence level:
Not confident

Fiscal Rules in the European Monetary Union

Question 2: Which of the following is the one reform you would choose to improve fiscal rules?

Answer:
Fiscal councils or fiscal standards
Confidence level:
Not confident

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