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COVID-19 and Public Support for the Euro

Author

Listed:
  • Roth, Felix

    (University of Hamburg)

  • Jonung, Lars

    (Department of Economics, Lund University)

  • Most, Aisada

    (University of Hamburg)

Abstract

The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely large macro database, this paper examines the effects of the pandemic and the ensuing economic policies on public support for the common currency, the euro, as measured by the Eurobarometer survey. It finds that public support for the euro reached historically high levels in a majority of the 19 Euro Area member states in the midst of the pandemic. This finding suggests that the expansionary fiscal policies initiated at the EU level significantly contributed to this outcome, while the monetary measures taken by the European Central Bank did not have a similar effect.

Suggested Citation

  • Roth, Felix & Jonung, Lars & Most, Aisada, 2023. "COVID-19 and Public Support for the Euro," Working Papers 2023:1, Lund University, Department of Economics.
    • Handle: RePEc:hhs:lunewp:2023_001
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    Cited by:

    1. is not listed on IDEAS
    2. Roth, Felix, 2026. "Inflation and Public Support for the Euro," Hamburg Discussion Papers in International Economics 21, University of Hamburg, Department of Economics.

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    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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