Public support for the euro and trust in the ECB
Public support for the euro and trust in the ECB
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公众对欧元的支持和对欧洲央行的信任
DOI：
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发表时间：
2019
期刊：
影响因子：
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通讯作者：
L. Jonung
中科院分区：
文献类型：
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作者：
Felix. Roth;L. Jonung
本章考察了在新货币的头二十年中，公众对欧元的支持和公众对欧洲中央银行（ECB）的信任的演变。使用一组独特的民意调查数据，这是不适用于任何其他货币，我们发现，大多数公民在每个成员国的欧元区（EA）支持欧元。大衰退和欧元危机之后的经济危机导致公众对欧元的支持略有下降，但对欧洲央行的信任急剧下降。最近的经济复苏加强了对欧元的支持以及对欧洲央行的信任。我们认为，对欧元作为交易媒介的支持并没有受到危机的强烈影响，而对欧洲央行作为货币政策制定者的信任却受到了危机的明显削弱。我们的计量经济学工作表明，失业是支持欧元及其治理的关键驱动力。鉴于这些发展，我们将讨论目前对欧元的支持水平是否使欧元能够在未来十年应对民粹主义挑战。
This chapter examines the evolution of public support for the euro and public trust in the European Central Bank (ECB) during the new currency’s first two decades. Using a unique set of opinion poll data that is not available for any other currency, we find that a majority of citizens in every member country of the euro area (EA) support the euro. The economic crisis in the EA following the Great Recession and the euro crisis led to a slight decline in public support for the euro but a sharp fall in trust in the ECB. The recent economic recovery has strengthened support for the euro as well as trust in the ECB. We suggest that support for the euro as a medium of exchange was not strongly affected by the crisis, while trust in the ECB, as the framer of monetary policy, was measurably weakened by the crisis. Our econometric work demonstrates that unemployment is a key driver of support for the euro and its governance. Given these developments, we discuss whether the present levels of support for the euro equip the currency to weather populist challenges in the coming decade.