Public Support for the Euro : : Essays on Labor Productivity, Monetary Economics, and Political Economy, Vol. 2.

• Superior document: Contributions to Economics Series
• Author: Roth, Felix.
• Place / Publishing House: Cham : : Springer International Publishing AG,, 2022.; ©2022.
• Year of Publication: 2022
• Edition: 1st ed.
• Language: English
• Series: Contributions to Economics Series
• Physical Description: 1 online resource (236 pages)

Table of Contents

• Public Support for the Euro
• Preface
• About the Author
• Contents
• Chapter 1: Public Support for the Euro and Trust in the ECB: The First Two Decades of the Common Currency
• 1 Introduction
• 2 The Role of Public Support for the Euro
• 3 Earlier Studies
• 4 Eurobarometer Data
• 5 Descriptive Results
• 5.1 Support and Trust in the Euro Area
• 5.2 Support and Trust among Individual Euro Countries
• 5.3 Support and Trust outside the Euro Area
• 6 Econometric Results
• 7 Explaining the Divergence in Support for the Euro and Trust in the ECB
• 8 Why Is Popular Support of the Euro So Important? Two Recent Cases
• 9 Conclusions
• Appendix
• References
• Chapter 2: Revisiting Public Support for the Euro, 1999-2017: Accounting for the Crisis and the Recovery
• 1 Introduction
• 2 Public Support for the Euro
• 3 Descriptive Statistics
• 4 Empirical Approach
• 4.1 Model Specification
• 4.2 Research Design
• 4.3 Operationalization and Data Used
• 5 Econometric Results
• 5.1 Macro Analysis
• 5.2 Micro Analysis
• 6 Previous Empirical Results
• 7 Conclusions
• Appendix 1: Net Support for the Euro in the Non-EA-19, 1999-2017
• Appendix 2: Descriptive Statistics and Test Results
• Appendix 3: Transforming Eq. (2.1) into Eq. (2.2)
• The Issue of Endogeneity
• Omitted Variables and Autocorrelation
• References
• Chapter 3: Public Support for the Euro
• 1 Introduction
• 2 Support for the Common Currency within the Original Eurozone
• 3 Support for the Euro among the New Members of the Eurozone
• 4 Support for the Euro outside the Eurozone
• 5 Conclusions
• References
• Chapter 4: Crisis and Public Support for the Euro, 1990-2014
• 1 Introduction
• 2 The Role of Public Support for the Euro
• 3 Public Support for the Euro
• 3.1 Measuring Public Support for the Single Currency
• 3.2 Support in the EA-12.
• 3.3 Support across Member States
• 4 Empirical Approach
• 4.1 Model Specification
• 4.2 Research Design
• 4.3 Data Used
• 5 Econometric Results
• 5.1 Macro Analysis
• 5.2 Micro Analysis
• 5.3 Previous Findings
• 6 Discussion
• 7 Conclusions
• Appendix 1: Individual Country Time Series for the EU-27, 1990-2014
• Appendix 2: A Detailed Breakdown of the Questionnaire over the 25-year Time Period
• Appendix 3: Descriptive Statistics and Test Results
• Appendix 4: Detailed Steps Leading from Eqs. (4.1)-(4.2)
• The Issue of Endogeneity
• Omitted Variables and Autocorrelation
• References
• Chapter 5: Political Economy of EMU: Rebuilding Systemic Trust in the Euro Area in Times of Crisis
• 1 Introduction
• 2 The Empirical Evidence Revisited: Citizens ́Declining Systemic Trust in the EA12
• 2.1 Before-After Analysis of Aggregated Country Trends of the EU27
• 2.2 Before-After Analysis of Single Country Trends within the EA12
• 2.3 Analysing the Net Trust Trends of the EA12 in the Long Run
• 3 Further Empirical Evidence of a Decline in Systemic Trust
• 3.1 Net Trust in the ECB
• 3.2 Net Trust in the EU
• 3.3 Validity of the Eurobarometer Data
• 3.4 Satisfaction with Democracy at the National and European Level
• 4 Consequences of Declining Systemic Trust for the Political Economy of EMU
• 4.1 Theoretical Arguments
• 4.1.1 The Loss of Legitimacy
• 4.1.2 Trust as a Prerequisite for an Economyś Long-Term Fiscal Sustainability
• 4.2 Application of Theoretical Arguments to the Most Recent Euro Area Crisis
• 4.2.1 Loss of Legitimacy
• 4.2.2 Trust as a Prerequisite for an Economyś Long-Term Fiscal Sustainability
• 5 Restoring Citizens ́Systemic Trust in the Euro Area Periphery
• 5.1 Empirical Findings of the Relationship between Unemployment Rates and Systemic Trust in Times of Crisis
• 5.1.1 Graphical Analysis.
• 5.1.2 Fairness as an Intermediating Effect between Unemployment and Systemic Trust in Times of Crisis
• 5.2 Increasing Unemployment throughout the Crisis: Factual Evidence in the Case of Spain
• 5.3 Tackling Unemployment in Times of Crisis
• 6 Public Support for the Euro in Times of Crisis
• 7 Restoring Systemic Trust without Treaty Change and with Treaty Change
• 7.1 Restoring Systemic Trust in the Short Run without Treaty Change
• 7.2 Restoring Systemic Trust in the Long Run with Treaty Change
• Appendix 1: Conceptualisation of Systemic Trust
• Appendix 2: Ancillary Figures and Tables
• References
• Chapter 6: Crisis and Citizens ́Trust in the European Central Bank: Panel Data Evidence for the Euro Area, 1999-2012
• 1 Introduction
• 2 Theoretical Links
• 2.1 The Consequences of an Enduring Loss of Citizens ́Trust in the ECB
• 2.2 Possible Drivers of Citizens ́Trust in the ECB
• 3 Measurement of Data, Model Specification, and Research Design
• 3.1 Measurement of Data
• 3.2 Model Specification
• 3.3 Research Design
• 4 Descriptive Statistics
• 5 Econometric Analysis
• 5.1 Discussion of the Estimation Procedure
• 5.2 Econometric Results
• 5.3 Sensitivity of Results
• 6 Discussion of Results
• 6.1 Discussion of Results Compared to Previous Empirical Findings
• 6.2 Discussion of Results in Light of the Underlying Theoretical Assumptions
• 7 Conclusions
• Appendix
• References
• Chapter 7: Crisis and Public Support for the Euro
• 1 Introduction
• 2 Support for the Euro across Older, Larger Member States?
• 3 Opinions in the Crisis Countries
• 4 What Does Support Look Like outside the Eurozone?
• 5 Levels of Trust in the ECB
• 6 Conclusions
• References
• Chapter 8: The Eurozone Crisis and Citizens ́Shattered Systemic Trust
• Chapter 9: The Enduring Popularity of the Euro throughout the Crisis.
• 1 Measuring Public Support for the Single Currency
• 2 Determinants of Euro Support
• 2.1 What Is Novel about Our Findings?
• 3 Conclusions
• Appendix
• References
• Chapter 10: Has the Financial Crisis Shattered Citizens ́Trust in National and European Governmental Institutions? Evidence fr...
• 1 Introduction
• 2 Theoretical Links
• 2.1 Trust in National Governmental Institutions
• 2.2 Trust in European Governmental Institutions
• 3 Previous Findings
• 3.1 Trust and Support for National Governmental Institutions
• 3.2 Trust and Support for the EU Trust and Support for European Governmental Institutions
• 4 Data and Measurement
• 4.1 Operationalisation
• 4.2 Model Specifications
• 4.3 Measurement of Data
• 5 Descriptive Statistics
• 6 Econometric Analysis
• 6.1 The Issue of Dealing with Unexpected Events and Omitted Variables
• 6.2 The Issue of Structural Break
• 6.3 The Issue of Endogeneity
• 6.4 Regression Results
• 7 Conclusions
• Appendix
• References
• Chapter 11: The Effect of the Financial Crisis on Systemic Trust
• 1 The Key Role of Sufficient Levels of Systemic Trust
• 2 Evidence from Eurobarometer
• 3 Confidence in National Governments
• 4 Confidence in the Market Economy
• 5 Conclusions
• Correction to: Crisis and Public Support for the Euro, 1990-2014.