Public Support for the Euro : Essays on Labor Productivity, Monetary Economics, and Political Economy, Vol. 2.
Roth, Felix.
Public Support for the Euro : Essays on Labor Productivity, Monetary Economics, and Political Economy, Vol. 2. - 1st ed. - 1 online resource (236 pages) - Contributions to Economics Series . - Contributions to Economics Series .
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 Economy�s 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 Economy�s 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.
9783030860240
Electronic books.
HB74.P65
Public Support for the Euro : Essays on Labor Productivity, Monetary Economics, and Political Economy, Vol. 2. - 1st ed. - 1 online resource (236 pages) - Contributions to Economics Series . - Contributions to Economics Series .
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 Economy�s 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 Economy�s 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.
9783030860240
Electronic books.
HB74.P65