To be or not to be ? : benefits and costs of monetary unification as perceived by voters in the Swedish euro referendum 2003 /
The Swedish referendum in September 2003 on adopting the euro or keeping the domestic currency, the krona, represents a unique event to examine the public's perceptions of the benefits and costs of monetary unification. The voters chose between the two polar cases of exchange rate regimes: eith...
| Κύριος συγγραφέας: | Jonung, Lars. |
|---|---|
| Corporate συγγραφέας: | European Commission : Directorate-General for Economic and Financial Affairs. |
| Άλλοι συγγραφείς: | Wood, Christina A. |
| Μορφή: | Βιβλίο |
| Γλώσσα: | English |
| Στοιχεία έκδοσης: |
Brussels ; Belgium :
European Commission: Directorate-General for Economic and Financial Affairs,
2004.
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| Σειρά: |
European Economy. Economic papers ;
205. |
| Διαθέσιμο Online: |
http://ec.europa.eu/economy_finance/publications/publication_summary704_en.htm |
| Ετικέτες: |
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| Περίληψη: |
The Swedish referendum in September 2003 on adopting the euro or keeping the domestic currency, the krona, represents a unique event to examine the public's perceptions of the benefits and costs of monetary unification. The voters chose between the two polar cases of exchange rate regimes: either a freely floating exchange rate or membership in a monetary union. Three major conclusions emerge from the analysis of the exit poll surveys gathered on the day of the referendum. • First, the optimum currency area theory proves to be a constructive framework to predict voting behaviour across socio-economic groups and regions in Sweden, assuming voters behave in their self-interest. • Second, the distribution of the expected benefits and costs across groups was a major determinant of their voting behaviour. As predicted by theory, the Yes-vote was strongest among voters employed in the tradable sector, in high growth regions as well as among high-income earners and well educated. The No-vote was strongest among voters employed in the non-tradable sector, in particular in the public sector, and among low-income earners, the unemployed and the less educated - in short, among groups dependent on public-sector transfers to maintain their living standards in the event of adverse economic shocks. • Third, political attitudes towards the European integration process heavily influenced the views of the voters towards the euro. |
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| Φυσική περιγραφή: |
32 σ. ; 30 εκ. |
| ISBN: |
92-894-5970-0 |
| ISSN: |
1016-8060 (print) 1725-3187 (online) |
| Σχετικά τεκμήρια: |
Economic Papers |