Economic Hardship and Policy Preferences in the Eurozone Periphery

Fernández-Albertos, José; Kuo, Alexander

doi:10.1177/0010414016633224

Cited by 51 publications

(44 citation statements)

References 35 publications

(45 reference statements)

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“…The financial crisis of 2008 and its aftermath have fundamentally shaken the European political system. As a range of scholars have shown, the strains caused by the crisis have brought about important changes in the way citizens perceive the EU project and its key financial institutions (Fernández‐Albertos & Kuo ; Hobolt & De Vries ). These changes have also affected the way voters approach the question of what their country should do, if at all, to help other EU countries in economic distress.…”

Section: Discussionmentioning

confidence: 99%

Policy design and domestic support for international bailouts

Bechtel

Hainmueller

Margalit

2017

European J Political Res

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Financial bailouts for ailing Eurozone countries face deep and widespread opposition among voters in donor countries, casting major doubts over the political feasibility of further assistance efforts. What is the nature of the opposition and under what conditions can governments obtain broader political support for funding such large‐scale, international transfers? This question is addressed by distinguishing theoretically between ‘fundamental’ and ‘contingent’ attitudes. Whereas the former entail complete rejection or embrace of a policy, the latter depend on the specific features of the policy and could shift if those features are altered. Combining unique data from an original survey in Germany – the largest donor country – together with an experiment that varies salient policy dimensions, the analysis indicates that less than a quarter of the public exhibits fundamental opposition to the bailouts. Testing a set of theories on contingent attitudes, particular sensitivity is found to the burden‐sharing and cost dimensions of the bailouts. The results imply that the choice of specific features of a rescue package has important consequences for building domestic support for international assistance efforts.

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Section: Discussionmentioning

confidence: 99%

Policy design and domestic support for international bailouts

Bechtel

Hainmueller

Margalit

2017

European J Political Res

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“…Support for the euro has remained remarkably high in all Eurozone countries throughout the crisis (Hobolt & Wratil 2015, Roth et al 2015. Although in deficit states most people express a preference for the rather impossible crisis strategy of keeping the euro and ending austerity at the same time (Clements et al 2014, Fernández-Albertos & Kuo 2016, they have shown a strong preference for the euro when pressed to choose between the two (Dinas et al 2016).…”

Section: Domestic Crisis Resolution: Politics Within Countriesmentioning

confidence: 99%

Understanding the Political Economy of the Eurozone Crisis

Frieden

Walter

2017

Annu. Rev. Polit. Sci.

176

121

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The Eurozone crisis constitutes a grave challenge to European integration. This essay presents an overview of the causes of the crisis, and analyzes why has it been so difficult to resolve. It focuses on how responses to the crisis were shaped by distributive conflicts both among and within countries. On the international level, debtor and creditor countries have fought over the distribution of responsibility for the accumulated debt; countries with current account surpluses and deficits have fought over who should implement the policies necessary to reduce the current account imbalances. Within countries, interest groups have fought to shift the costs of crisis resolution away from themselves. The essay emphasizes that the Eurozone crisis shares many features of previous debt and balance-of-payments crises. However, the Eurozone's predicament is unique because it is set within a monetary union that strongly constrains the policy options available to policymakers, and vastly increases the interdependence of the euro crisis countries on each other. The outcome of the crisis has been highly unusual, because the costs of resolving the crisis have been borne almost exclusively by the debtor countries and taxpayers in the Eurozone.2

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“…Broadly speaking, the data above highlight the need for further examination of potential wide-ranging implications associated with tough economic climates. Empirical research has mainly focused on investigating the socioeconomic and political impacts of the global economic downturn [10][11][12][13], while analysis of its psychological repercussions has captured relatively little scholarly attention. Overall, within this framework, most studies have given a special focus to the effects of the economic crisis on psychological well-being and healthrelated indicators.…”

Section: Introductionmentioning

confidence: 99%

Connecting perceived economic threat and prosocial tendencies: The explanatory role of empathic concern

Alonso-Ferres¹,

Navarro‐Carrillo²,

Garrido‐Macías³

et al. 2020

PLoS ONE

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Recent research suggests that perceived economic threat constitutes a valid predictor of people's attitudes and behaviors. While accumulated empirical evidence has mostly underlined the deleterious psychological effects (e.g., reduced psychological well-being) of perceived economic threat in times of economic strain, we postulate that individuals experiencing higher economic threat linked to the Spanish economic crisis are more prone to engage in other-beneficial prosocial behavior. Across two independently collected community samples, we tested this theoretical formulation and examined the potential mediating roles of empathic concern (Studies 1 & 2) and identification (Study 2). Study 1 (N = 306) revealed that participants who descended in the social scale due to the negative national economic context were engaged in a larger number of helping behaviors over the last three months compared to participants who did not descend the social ladder-independently of several sociodemographic and ideological factors. Moreover, our data indicated these effects were driven by increased empathic concern. Study 2 (N = 588), in which two hypothetical helping-behavior scenarios were randomly administered (crisis-related vs. control), showed that participants under high perceived financial threat exhibited an undifferentiated pattern of prosociality. However, moderatedmediation analyses indicated that empathic concern explained the perceived financial threathelping behavior link in the hypothetical crisis-related scenario but not in the hypothetical control scenario. Together, these findings extend prior literature on the psychosocial effects of perceived economic threat and the determinants of other-oriented behavior. Implications of these findings and suggestions for further research are discussed.

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Economic Hardship and Policy Preferences in the Eurozone Periphery

Cited by 51 publications

References 35 publications

Policy design and domestic support for international bailouts

Policy design and domestic support for international bailouts

Understanding the Political Economy of the Eurozone Crisis

Connecting perceived economic threat and prosocial tendencies: The explanatory role of empathic concern

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