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

Bibliographic Details
Main Author: Roth, Felix.
Format: eBook
Language:English
Published: Cham : Springer International Publishing AG, 2022.
Edition:1st ed.
Series:Contributions to Economics Series
Subjects:
Electronic books.
Online Access:Click to View
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.

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