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Revisiting Public Support for the Euro, 1999-2017 : Accounting for the Crisis and the Recovery

Roth, Felix; Baake, Edgar; Jonung, Lars LU and Nowak-Lehmann, Felicitas (2018) In Working Papers
Abstract
This paper explores the evolution and determinants of public support for the euro since its creation in 1999 until the end of 2017, thereby covering the pre-crisis experience of the euro, the crisis years and the recent recovery. Using uniquely large macro and micro databases and applying up-to-date econometric techniques, we revisit the growing literature on public support for the euro. First, we find that a majority of respondents support the euro in nearly all 19 euro area member states. Second, we offer fresh evidence that economic factors are the main determinants of changes in the level of support for the euro: crisis reduces support while periods of recovery bode well for public support. This result holds for both macroeconomic and... (More)
This paper explores the evolution and determinants of public support for the euro since its creation in 1999 until the end of 2017, thereby covering the pre-crisis experience of the euro, the crisis years and the recent recovery. Using uniquely large macro and micro databases and applying up-to-date econometric techniques, we revisit the growing literature on public support for the euro. First, we find that a majority of respondents support the euro in nearly all 19 euro area member states. Second, we offer fresh evidence that economic factors are the main determinants of changes in the level of support for the euro: crisis reduces support while periods of recovery bode well for public support. This result holds for both macroeconomic and microeconomic factors. Turning to a broad set of socio-economic variables, we find clear differences in support due to education and perceptions of economic status. (Less)
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author
organization
publishing date
type
Working Paper
publication status
published
subject
keywords
euro, public support for the euro, ECB, EU, euro crisis, unemployment, inflation, monetary union, C23, E24, E31, E32, E42, E58, J64, O52
in
Working Papers
issue
2018:9
pages
31 pages
language
English
LU publication?
yes
id
4535ac52-2648-4891-b1c6-0a19cd3ad388
alternative location
https://swopec.hhs.se/lunewp/abs/lunewp2018_009.htm
date added to LUP
2018-04-23 09:23:49
date last changed
2018-11-21 21:39:28
@misc{4535ac52-2648-4891-b1c6-0a19cd3ad388,
  abstract     = {This paper explores the evolution and determinants of public support for the euro since its creation in 1999 until the end of 2017, thereby covering the pre-crisis experience of the euro, the crisis years and the recent recovery. Using uniquely large macro and micro databases and applying up-to-date econometric techniques, we revisit the growing literature on public support for the euro. First, we find that a majority of respondents support the euro in nearly all 19 euro area member states. Second, we offer fresh evidence that economic factors are the main determinants of changes in the level of support for the euro: crisis reduces support while periods of recovery bode well for public support. This result holds for both macroeconomic and microeconomic factors. Turning to a broad set of socio-economic variables, we find clear differences in support due to education and perceptions of economic status.},
  author       = {Roth, Felix and Baake, Edgar and Jonung, Lars and Nowak-Lehmann, Felicitas},
  keyword      = {euro,public support for the euro,ECB,EU,euro crisis,unemployment,inflation,monetary union,C23,E24,E31,E32,E42,E58,J64,O52},
  language     = {eng},
  note         = {Working Paper},
  number       = {2018:9},
  pages        = {31},
  series       = {Working Papers},
  title        = {Revisiting Public Support for the Euro, 1999-2017 : Accounting for the Crisis and the Recovery},
  year         = {2018},
}