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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 D., Felicitas (2019) In Journal of Common Market Studies
Abstract

This article 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, the authors revisit the growing literature on public support for the euro. First, we find that a majority of citizens support the euro in nearly all 19 euro area member states. Second, we offer fresh evidence that economic factors are important determinants of change in the level of support for the euro: crisis reduces support while periods of recovery from unemployment bode well for public support. This result... (More)

This article 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, the authors revisit the growing literature on public support for the euro. First, we find that a majority of citizens support the euro in nearly all 19 euro area member states. Second, we offer fresh evidence that economic factors are important determinants of change in the level of support for the euro: crisis reduces support while periods of recovery from unemployment bode well for public support. This result holds for both macroeconomic and microeconomic factors. Turning to a broad set of socioeconomic variables, we find clear differences in support due to education and perceptions of economic status.

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Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
epub
subject
keywords
economic and monetary union, euro area crisis, euro area recovery, public support for the euro, unemployment
in
Journal of Common Market Studies
publisher
Wiley-Blackwell
external identifiers
  • scopus:85068903827
ISSN
0021-9886
DOI
10.1111/jcms.12892
language
English
LU publication?
yes
id
6aa3c34c-cc6a-4e2a-b13e-aac57122d643
date added to LUP
2019-07-24 14:11:32
date last changed
2019-08-28 04:57:19
@article{6aa3c34c-cc6a-4e2a-b13e-aac57122d643,
  abstract     = {<p>This article 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, the authors revisit the growing literature on public support for the euro. First, we find that a majority of citizens support the euro in nearly all 19 euro area member states. Second, we offer fresh evidence that economic factors are important determinants of change in the level of support for the euro: crisis reduces support while periods of recovery from unemployment bode well for public support. This result holds for both macroeconomic and microeconomic factors. Turning to a broad set of socioeconomic variables, we find clear differences in support due to education and perceptions of economic status.</p>},
  author       = {Roth, Felix and Baake, Edgar and Jonung, Lars and Nowak-Lehmann D., Felicitas},
  issn         = {0021-9886},
  keyword      = {economic and monetary union,euro area crisis,euro area recovery,public support for the euro,unemployment},
  language     = {eng},
  month        = {07},
  publisher    = {Wiley-Blackwell},
  series       = {Journal of Common Market Studies},
  title        = {Revisiting Public Support for the Euro, 1999–2017 : Accounting for the Crisis and the Recovery},
  url          = {http://dx.doi.org/10.1111/jcms.12892},
  year         = {2019},
}