The Enduring Popularity of the Euro throughout the Crisis
(2022) In Contributions to Economics 2. p.169-185- Abstract
This paper analyses the evolution of public support for the euro from 1990 to 2011, using a popularity function approach, focusing on the most recent period of the financial and sovereign debt crisis. Exploring a huge database of close to half a million observations, covering the 12 original euro area member countries, we find that the ongoing crisis has only marginally reduced citizens’ support for the euro – at least so far. This result is in stark contrast to the sharp fall in public trust in the European Central Bank. We conclude that the crisis has hardly dented popular support for the euro while the central bank supplying the single currency has lost ground in public trust. Thus, the euro appears to have established a credibility... (More)
This paper analyses the evolution of public support for the euro from 1990 to 2011, using a popularity function approach, focusing on the most recent period of the financial and sovereign debt crisis. Exploring a huge database of close to half a million observations, covering the 12 original euro area member countries, we find that the ongoing crisis has only marginally reduced citizens’ support for the euro – at least so far. This result is in stark contrast to the sharp fall in public trust in the European Central Bank. We conclude that the crisis has hardly dented popular support for the euro while the central bank supplying the single currency has lost ground in public trust. Thus, the euro appears to have established a credibility of its own – separate from the institutional framework behind the currency.
(Less)
- author
- Roth, Felix ; Jonung, Lars LU and Nowak-Lehmann D, Felicitas
- organization
- publishing date
- 2022
- type
- Chapter in Book/Report/Conference proceeding
- publication status
- published
- subject
- keywords
- ECB, Euro, Euro area, Financial and sovereign debt crisis, Monetary Union, Public support, Trust
- host publication
- Public Support for the Euro : Essays on Labor Productivity, Monetary Economics, and Political Economy, - Essays on Labor Productivity, Monetary Economics, and Political Economy,
- series title
- Contributions to Economics
- volume
- 2
- pages
- 17 pages
- publisher
- Springer Science and Business Media B.V.
- external identifiers
-
- scopus:85126772625
- ISSN
- 2197-7178
- 1431-1933
- ISBN
- 978-3-030-86026-4
- DOI
- 10.1007/978-3-030-86024-0_9
- language
- English
- LU publication?
- yes
- id
- cf8f5772-fd2a-4277-a6b4-dd8e036f22a9
- date added to LUP
- 2022-04-20 15:33:49
- date last changed
- 2024-06-03 08:05:12
@inbook{cf8f5772-fd2a-4277-a6b4-dd8e036f22a9,
abstract = {{<p>This paper analyses the evolution of public support for the euro from 1990 to 2011, using a popularity function approach, focusing on the most recent period of the financial and sovereign debt crisis. Exploring a huge database of close to half a million observations, covering the 12 original euro area member countries, we find that the ongoing crisis has only marginally reduced citizens’ support for the euro – at least so far. This result is in stark contrast to the sharp fall in public trust in the European Central Bank. We conclude that the crisis has hardly dented popular support for the euro while the central bank supplying the single currency has lost ground in public trust. Thus, the euro appears to have established a credibility of its own – separate from the institutional framework behind the currency.</p>}},
author = {{Roth, Felix and Jonung, Lars and Nowak-Lehmann D, Felicitas}},
booktitle = {{Public Support for the Euro : Essays on Labor Productivity, Monetary Economics, and Political Economy,}},
isbn = {{978-3-030-86026-4}},
issn = {{2197-7178}},
keywords = {{ECB; Euro; Euro area; Financial and sovereign debt crisis; Monetary Union; Public support; Trust}},
language = {{eng}},
pages = {{169--185}},
publisher = {{Springer Science and Business Media B.V.}},
series = {{Contributions to Economics}},
title = {{The Enduring Popularity of the Euro throughout the Crisis}},
url = {{http://dx.doi.org/10.1007/978-3-030-86024-0_9}},
doi = {{10.1007/978-3-030-86024-0_9}},
volume = {{2}},
year = {{2022}},
}