Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/266428
Authors: 
Roth, Felix
Jonung, Lars
Most, Aisada
Year of Publication: 
2022
Series/Report no.: 
Hamburg Discussion Papers in International Economics No. 13
Publisher: 
University of Hamburg, Chair of International Economics, 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.
Subjects: 
COVID-19
lockdowns
support for the euro
unemployment
inflation
monetary policies
fiscal policies
EU
JEL: 
C23
E24
E42
E52
E62
I18
Document Type: 
Working Paper

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