The Eurotower Strikes Back

The Eurotower Strikes Back
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欧洲塔的反击

DOI:
10.1177/0010414015626444
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发表时间:
2016
影响因子:
5
通讯作者:
Wassmann
Wassmann
中科院分区:
法学1区
文献类型:
--
作者:
Genovese;Schneider;Wassmann

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2008年的全球金融危机伴随着恐惧而来,对一些人来说,也伴随着希望工业化国家将出现新一轮的公众动员浪潮。特别是在整个危机中心的欧盟(EU),预计会发生大规模抗议活动。然而,社会团体动员起来反对拟议中的紧缩措施的能量很快就消失了。这篇文章提供了新的证据来解释为什么会出现这种情况。根据新凯恩斯主义理论,我们认为,欧洲中央银行(ECB)的利率调整和政治声明限制了受危机影响的经济和货币联盟(EMU)成员国发生大规模动荡的可能性。我们用年度面板数据和2001年至2013年期间每月政治抗议的新原始数据集为我们的论点提供证据。我们的分析支持这样一个假设,即欧洲央行能够成功地平息欧元区成员国在欧元危机后对有限改革选择的不满。
The 2008 global financial crisis came with fears—and, for some, hopes—that a new wave of public mobilization would emerge in industrialized countries. Especially throughout the European Union (EU), the epicenter of the crisis, large protests were expected. Yet, the energy with which social groups mobilized against the proposed austerity measures quickly fizzled. This article provides new evidence for why this was the case. In line with Neo-Keynesian theory, we argue that the interest rate adjustments and political announcements of the European Central Bank (ECB) limited the potential for mass unrest in the member states of the Economic and Monetary Union (EMU) affected by the crisis. We provide evidence for our argument with yearly panel data and a new original data set of monthly political protests between 2001 and 2013. Our analyses support the hypothesis that the ECB was able to successfully assuage dissatisfaction with the limited reform options of the Eurozone member states in the wake of the Eurocrisis.
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