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Budget and beliefs: the future of Emu integration how public opinion can drive economic policy decisions about the Eurozone
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This paper documents the lack of real and cyclical convergence after the Euro adoption to argue that more coordination (risk-reduction) and/or more centralization (risk-sharing) would be needed to improve the functioning of the Economic and Monetary Union. By relying on individual-level data from the Eurobarometer, we shed light on the drivers of support for each of these two avenues. Wes how that, though socioeconomic status does play a role, political values and subjective perspectives are the main determinants of support for integration at the individual level. At a macrolevel, countries with higher unemployment rate call for both risk-reduction and risk-sharing.
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Convergence European integration Public opinion Eurozone budget