European Economic Experts Panel

The Clark Center for Global Markets explores economists’ views on vital policy issues via our US and European Economic Experts Panels. We regularly poll over 80 economists on a range of timely and relevant topics. Panelists not only have the opportunity to respond to a poll’s statements, but an opportunity to comment and provide additional resources, if they wish. The Clark Center then shares the results with the public in a straightforward and concise format.

Please note that from September 2022, the language in our polls will use just two modifiers to refer to the size of an effect:

‘Substantial’: when an effect is large enough that it would make a difference that matters for the behavior involved.
‘Measurable’: when the direction of the effect is clear, but perhaps experts would differ as to whether it is substantial.

The Invisible Hand

Europe

The Invisible Hand

Question A:

Adam Smith’s metaphor of the invisible hand has been foundational to the development of modern economic theory.

Responses

Source: European Clark Center Economic Experts Panel
Methodology

Question B:

Adam Smith’s metaphor of the invisible hand has been commonly misinterpreted as advocacy for pure laissez-faire capitalism.

Responses

Source: European Clark Center Economic Experts Panel
Methodology

Democracy, Government, & Public Policy

February 15, 2023

State Aid

Europe

State Aid

Question A:

Loosening regulations on state aid to allow targeted incentives for companies in certain sectors will substantially improve the EU’s relative attractiveness for corporate investment.

Responses

Source: European Clark Center Economic Experts Panel
Methodology

Question B:

Loosening regulations on state aid will give a substantial advantage to the economies of EU members with stronger public finances.

Responses

Source: European Clark Center Economic Experts Panel
Methodology

Question C:

Even if looser regulations on state aid are temporary, they risk permanent damage to the EU’s longstanding competition policy regime.

Responses

Source: European Clark Center Economic Experts Panel
Methodology

Investment, Infrastructure, & Cities

January 25, 2023

Electric Vehicles

Europe

Electric Vehicles

This European survey examines (a) Without government intervention, take-up of electric vehicles will be substantially less than is desirable to reduce carbon emissions; (b) To encourage greater take-up of electric vehicles, public expenditure on infrastructure to support them (such as charging stations) is likely to be more cost-effective than providing equivalent amounts as tax credits/purchase rebates for buyers

Environment, Climate Change, & Natural Resources

December 13, 2022

Twitter

Europe

Twitter

This European survey examines (a) Network externalities give Twitter an incumbent advantage that will slow substantially the migration of users who would prefer alternative platforms;
(b) As of now, there needs to be more government regulation around Twitter’s content moderation and personal data protection.

Business, Management, & Corporate Performance

November 29, 2022

Responding to Carbon Leakage

Europe

Responding to Carbon Leakage

This European survey examines (a) The carbon border adjustment mechanism will ensure that the European Union’s green objectives are not undermined by the relocation of EU production in the sectors under the mechanism to non-EU countries with less ambitious climate policies (‘carbon leakage'); (b) To the extent that the carbon border adjustment mechanism is effective in reducing emissions and carbon leakage, it will impose substantial costs on the economies of poorer countries

Environment, Climate Change, & Natural Resources

November 9, 2022

Banks and Financial Crises

Europe

Banks and Financial Crises

This European survey examines (a) Research on the nature and impact of bank runs has made it possible to limit substantially the wider economic damage from financial crises; (b) Reforms of financial regulation since 2008 (and macroprudential policies in some countries) will not substantially reduce the probability of financial crises.

Business Cycles, Recessions, & Crises

October 18, 2022

Bankers’ Bonus Cap

Europe

Bankers’ Bonus Cap

This European survey examines (a) The UK’s removal of the cap on bankers' bonuses (introduced by the EU in 2014 and which limits payouts to two times annual base salary) will provide a measurable boost to the country’s economic growth; (b) Removing the cap on bankers' bonuses will measurably enhance the global competitiveness of the UK’s financial services sector; (c) Removing the cap on bankers' bonuses will pose a measurable risk to financial stability in the UK.

Financial Markets & Banking

October 4, 2022

Oil Price Cap

Europe

Oil Price Cap

In early September 2022, the finance ministers of the G7 countries confirmed their intention to implement a price cap on purchases of Russian oil and related products. Their objective is to reduce Russia’s ability to fund its invasion of Ukraine while limiting the war’s impact on global energy prices. We invited our European and US experts to express their views on this proposal, asking both panels whether they agree or disagree with the following statements, and, if so, how strongly and with what degree of confidence:

Democracy, Government, & Public Policy

September 14, 2022

Inequality

Europe

Inequality

Poverty, Inequality, & Social Mobility

July 13, 2022

Energy Costs

Europe

Energy Costs

In her September 2022 State of the Union address, the European Commission president Ursula von der Leyen called for windfall taxes on energy companies’ profits. She also flagged the possibility of price caps to reduce household and business bills for gas and electricity, which have soared in recent months.

Environment, Climate Change, & Natural Resources

June 23, 2022