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COVID-19 and public support for the Euro

Roth, Felix ; Jonung, Lars LU and Most, Aisada (2024) In Empirica 51(1). p.61-86
Abstract
The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely large macro database, this paper examines the effects of the pandemic and the ensuing economic policies on public support for the common currency, the euro, as measured by the Eurobarometer survey. It finds that public support for the euro increased in a majority of the 19 Euro Area member states and reached historically high levels in the midst of the pandemic. This finding suggests that the expansionary fiscal policies initiated at the EU level... (More)
The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely large macro database, this paper examines the effects of the pandemic and the ensuing economic policies on public support for the common currency, the euro, as measured by the Eurobarometer survey. It finds that public support for the euro increased in a majority of the 19 Euro Area member states and reached historically high levels in the midst of the pandemic. This finding suggests that the expansionary fiscal policies initiated at the EU level significantly contributed to this outcome, while the monetary measures taken by the European Central Bank did not have a similar effect. (Less)
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author
; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Empirica
volume
51
issue
1
pages
26 pages
publisher
Springer
external identifiers
  • scopus:85179994470
ISSN
1573-6911
DOI
10.1007/s10663-023-09596-7
language
English
LU publication?
yes
id
be3a1d0c-600a-44f3-ad20-553106e64249
date added to LUP
2023-12-18 10:56:42
date last changed
2024-08-28 13:25:04
@article{be3a1d0c-600a-44f3-ad20-553106e64249,
  abstract     = {{The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely large macro database, this paper examines the effects of the pandemic and the ensuing economic policies on public support for the common currency, the euro, as measured by the Eurobarometer survey. It finds that public support for the euro increased in a majority of the 19 Euro Area member states and reached historically high levels in the midst of the pandemic. This finding suggests that the expansionary fiscal policies initiated at the EU level significantly contributed to this outcome, while the monetary measures taken by the European Central Bank did not have a similar effect.}},
  author       = {{Roth, Felix and Jonung, Lars and Most, Aisada}},
  issn         = {{1573-6911}},
  language     = {{eng}},
  number       = {{1}},
  pages        = {{61--86}},
  publisher    = {{Springer}},
  series       = {{Empirica}},
  title        = {{COVID-19 and public support for the Euro}},
  url          = {{http://dx.doi.org/10.1007/s10663-023-09596-7}},
  doi          = {{10.1007/s10663-023-09596-7}},
  volume       = {{51}},
  year         = {{2024}},
}