DP15683 Collective Memories on the 2010 European Debt Crisis *
|Author(s):||Laura Arnemann, Kai A. Konrad, Niklas Potrafke|
|Publication Date:||January 2021|
|Keyword(s):||aid&reform programmes, Collective memories, European debt crisis, experts, nation-serving biases|
|JEL(s):||F36, F55, H12, H87|
|Programme Areas:||Public Economics|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=15683|
We examine whether collective memories on the aid&reform programs chosen to handle the 2010 European debt crisis diï¬?er between citizens from borrower and lender countries. We use new international survey data for non-experts and experts in member countries of the euro area. The results show that non-experts from borrower and lender countries remember aspects of the programs in diï¬?erent manners; indicating biases for assessments of how the crisis outcomes are perceived in borrower and lender countries. Nation-serving biases may well explain if the European debt crisis has reduced the sense of belonging rather than bringing European citizens closer together.