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.
Europe

Wealth Taxes

Question A:

A wealth tax would be an effective way to reduce inequality.

Responses

Source: European Clark Center Economic Experts Panel
Methodology
Question B:

A wealth tax in a form discussed in the UK (where individuals could be taxed a percentage of their net worth over £750,000, excluding any personal pension savings and their main home) would be an effective way to improve public finances after the Covid-19 crisis.

Responses

Source: European Clark Center Economic Experts Panel
Methodology
Question C:

A public policy goal that could be accomplished with a well-enforced wealth tax could be accomplished at lower cost with modifications to existing taxes, such as income tax, capital gains tax, inheritance tax and property tax.

Responses

Source: European Clark Center Economic Experts Panel
Methodology
 
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Clark Center Economic Experts Panel
Europe

Antitrust in the Digital Economy

Question A:

Google's dominance of the market for internet search arose mainly from a combination of economies of scale and a quality algorithm.

Responses

Source: European Clark Center Economic Experts Panel
Methodology
Question B:

In light of Google’s dominance, its current operating practices could have a substantial negative effect on social welfare in the long run.

Responses

Source: European Clark Center Economic Experts Panel
Methodology
Question C:

The nature of the market dominance of technology giants in the digital economy warrants either the imposition of some kind of regulation or a fundamental change in antitrust policy.

Responses

Source: European Clark Center Economic Experts Panel
Methodology
 
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Business, Management, & Corporate Performance
Europe

Objectives of the European Central Bank

This week's European Economic Experts Panel statements:

A) The ECB should aim to achieve an inflation rate that averages 2% over time.

B) The ECB should take account of the environmental implications of its policy decisions.

C) The objectives set for the ECB by Treaty should make maximum sustainable employment of equal importance as price stability. 
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Clark Center Economic Experts Panel
Europe

European Economic Recovery

This week’s IGM European Economic Experts Panel statements:

A) Right now, the central focus of fiscal policy should be on temporary measures to provide protection and promote rapid economic recovery rather than trying to advance other objectives, such as reducing debt, tackling climate change or addressing inequality.

B) Cutting taxes on firms (or delaying tax collection) will allow more of them to survive and be more effective than public spending for triggering a rapid economic recovery.

C) European recovery fund disbursements to crisis-hit countries should be primarily in the form of grants rather than loans.

D) European recovery fund disbursements to crisis-hit countries should not be made on condition of commitments to reform by recipients. 
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Business Cycles, Recessions, & Crises
Europe

The Search for a Vaccine

This week’s IGM European Economic Experts Panel statements:

 

A) Given the social and regulatory pressures to keep prices down for drugs and vaccines to treat Covid-19, the financial incentives for pharmaceutical companies to invest in such products are below the value of the investment to society.

B) Government commitments to pay developers and manufacturers above average costs for an effective vaccine or drug treatments for Covid-19 would accelerate production.

C) Given the positive externalities from vaccination, an effective Covid-19 vaccine should have priority in public healthcare funding even in countries where other diseases cause more death and disability.

  
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Clark Center Economic Experts Panel
Europe

Prices of Medical Supplies

This week’s IGM European Economic Experts Panel statements:

A) Clearing the market for surgical face masks using prices is detrimental to the public good.

B) Laws to prevent high prices for essential goods in short supply in a crisis would raise social welfare.

C) Governments should buy essential medical supplies at what would have been the market price and redistribute according to need rather than ability to pay. 
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Clark Center Economic Experts Panel
Europe

COVID-19 and the World Economy

This week’s IGM European Economic Experts Panel statements:

A) Economic damage from the virus and lockdowns will ultimately fall disproportionately hard on low- and middle-income countries.

B) A temporary standstill on sovereign debt payments by low- and middle-income countries to all official and private creditors to give those countries space to cover the immediate costs of the crisis would benefit advanced economies.

C) Export restrictions on food and medical supplies, and other protectionist measures, are likely to cost lives and slow economic recovery in all countries.

  
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Business Cycles, Recessions, & Crises
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Topics

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