Trust in the Euro: Exploring the Governance of a Supra-National Currency

Kaelberer, Matthias

doi:10.1080/14616690701374923

Cited by 14 publications

(10 citation statements)

References 15 publications

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“…Second, similar to previous empirical findings (Roth et al, , p. 310), this negative relationship is four times smaller than the one between unemployment and net trust in the ECB . Third, in contrast to Banducci et al (, p. 571) and Hobolt and Leblond (, p. 141), we find a significant and negative relationship between inflation and net support for the euro in pre‐crisis times, in line with underlying theoretical literature (Kaelberer, , p. 626). The negative relationship, however, is insignificant in times of crisis.…”

Section: Econometric Resultssupporting

confidence: 80%

Crisis and Public Support for the Euro, 1990–2014*

Roth

Jonung

Nowak‐Lehmann

2015

J of Common Market Studies

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This article analyses the evolution of public support for the single European currency, the euro, from 1990 to 2014 for a 12-country sample of the euro area (EA-12), focusing on the most recent period of the financial and sovereign debt crisis, starting in 2008. We find that citizens' support for the euro on average was marginally reduced during the first six years of the crisis, and that support has remained at high levels. While the pronounced increase in unemployment in the EA-12 throughout the crisis has led to a marked decline in trust in the European Central Bank (ECB), it is only weakly related to support for the euro.

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Section: Econometric Resultssupporting

confidence: 80%

Crisis and Public Support for the Euro, 1990–2014*

Roth

Jonung

Nowak‐Lehmann

2015

J of Common Market Studies

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“…As we have argued above, a distinction of four different time periods seems to be appropriate, our analysis will include the 3 rd and 4 th time period. Similar to other studies in the field (Gärtner, 1997, Kaltenthaler & Anderson 2001Banducci et al, 2009, Kaelberer, 2007and Hobolt & Leblond, 2009, we expect that the price stability (inflation) should be a key influence on support for the euro. However, based on the popularity function literature we would also expect unemployment and growth of GDP per capita to exert a significant influence (see here e.g.…”

supporting

confidence: 85%

“…The use of this survey question underlies the literature on public attitudes towards the single currency (see e.g. Kaltenthaler & Anderson, 2001;Banducci et al, 2003 andKaelberer, 2007;Jonung, 2011). As the response rate of the "Don't Know" answer fluctuates over the entire sample (ranging from 0 to 34 and a mean of 8 with a standard deviation of 3.5), we focus on the average percentage of net support measured as the number of "For" responses minus "Against" responses to the above question on the country level in our analysis.…”

Section: Measuring Public Support For the Single Currencymentioning

confidence: 99%

The Enduring Popularity of the Euro Throughout the Crisis

2011

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This paper analyses the evolution of public support for the euro from 1990 to 2011, using a popularity function approach, focusing on the most recent period of the financial and sovereign debt crisis. Exploring a huge database of close to half a million observations covering the 12 original euro area member countries, we find that the ongoing crisis has only marginally reduced citizens' support for the euro -at least so far. This result is in stark contrast to the sharp fall in public trust in the European Central Bank. We conclude that the crisis has hardly dented popular support for the euro while the central bank supplying the single currency has lost sharply in public trust. Thus, the euro appears to have established a credibility of its own -separate from the institutional framework behind the euro.CEPS gratefully acknowledges the generous support from Stiftung Mercator in financing the research project "Has the crisis in the eurozone undermined citizens' support for EMU and the euro?", which led to this study.

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“…Second, the article examines models of accountability in an evolving supranational polity; we know very little about how citizens' cognitions and behaviours connect with supranational institutions. The work that has been done on the accountability of supranational institutions has been largely conceptual and not empirical in nature (De Haan et al ., 2004; Deroose et al ., 2007; Heisenberg, 2003; Kaelberer, 2007; Keohane, 2002; Magnette, 2000). This article seeks to add to the base of knowledge that exists about how citizens think about the accountability of supranational institutions.…”

Section: Introductionmentioning

confidence: 99%

Accountability and Independent Central Banks: Europeans and Distrust of the European Central Bank

Kaltenthaler

Anderson

Miller

2010

J of Common Market Studies

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This article explores whether Europeans distrust the European Central Bank (ECB) because they dislike its policies or think they cannot control the institution. Distrust of the ECB is a function of individuals believing the bank cannot be counted on to fulfill the duties that Europeans have assigned it. Copyright (c) 2010 The Author(s). JCMS: Journal of Common Market Studies (c) 2010 Blackwell Publishing Ltd.

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Trust in the Euro: Exploring the Governance of a Supra-National Currency

Cited by 14 publications

References 15 publications

Crisis and Public Support for the Euro, 1990–2014*

Crisis and Public Support for the Euro, 1990–2014*

The Enduring Popularity of the Euro Throughout the Crisis

Accountability and Independent Central Banks: Europeans and Distrust of the European Central Bank

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