Revisiting Public Support for the Euro, 1999–2017: Accounting for the Crisis and the Recovery

12 Pages Posted: 28 May 2020

See all articles by Felix Roth

Felix Roth

University of Hamburg

Edgar Baake

University of Hamburg

Lars Jonung

Lund University - Dept. of Economics

Felicitas Nowak‐Lehmann D.

University of Goettingen (Gottingen)

Date Written: November 2019

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 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.

Keywords: public support for the euro, euro area crisis, euro area recovery, unemployment, economic and monetary union

Suggested Citation

Roth, Felix and Baake, Edgar and Jonung, Lars and Nowak‐Lehmann D., Felicitas, Revisiting Public Support for the Euro, 1999–2017: Accounting for the Crisis and the Recovery (November 2019). JCMS: Journal of Common Market Studies, Vol. 57, Issue 6, pp. 1262-1273, 2019, Available at SSRN: https://ssrn.com/abstract=3606526 or http://dx.doi.org/10.1111/jcms.12892

Felix Roth (Contact Author)

University of Hamburg ( email )

Allende-Platz 1
Hamburg, 20146
Germany

Edgar Baake

University of Hamburg

Allende-Platz 1
Hamburg, 20146
Germany

Lars Jonung

Lund University - Dept. of Economics ( email )

Box 7080
Lund, 22007
Sweden

Felicitas Nowak‐Lehmann D.

University of Goettingen (Gottingen)

Platz der Gottinger Sieben 3
Gottingen, D-37073
Germany

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