Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/312832 
Year of Publication: 
2023
Citation: 
[Journal:] Empirica [ISSN:] 1573-6911 [Volume:] 51 [Issue:] 1 [Publisher:] Springer US [Place:] New York, NY [Year:] 2023 [Pages:] 61-86
Publisher: 
Springer US, New York, NY
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 increased in a majority of the 19 Euro Area member states and reached historically high levels 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
Support for the euro
Unemployment
Monetary policies
Fiscal policies
ECB
EMU
JEL: 
C23
E24
E42
E52
E62
I18
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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