Political support in hard times : do people care about national welfare?

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URL:	https://ub-madoc.bib.uni-mannheim.de/32076
URN:	urn:nbn:de:bsz:180-madoc-320765
Dokumenttyp:	Arbeitspapier
Erscheinungsjahr:	2012
Titel einer Zeitschrift oder einer Reihe:	Working Paper Series
Band/Volume:	12-12
Ort der Veröffentlichung:	Mannheim
Sprache der Veröffentlichung:	Englisch
Einrichtung:	Fakultät für Rechtswissenschaft und Volkswirtschaftslehre > VWL, Wirtschaftspolitik (Grüner 1999-)
MADOC-Schriftenreihe:	Department of Economics > Working Paper Series
Fachgebiet:	330 Wirtschaft
Fachklassifikation:	JEL: H11 , O43 , P16,
Freie Schlagwörter (Englisch):	Political support , satisfaction with democracy , growth , unemployment , collectivism
Abstract:	During the Great Recession mass demonstrations indicated weakened political support in Europe. We show that growing dissatisfaction reflects poor economic conditions; unemployment is particularly important. Using individual level data for 16 Western European countries for 1976-2010, we find that national economic performance even matters beyond personal economic outcomes. Finally, while effects of growth and unemployment rates are the same across demographic subsets, the effect of inflation is heterogeneous. Younger, well-educated, or working individuals put relatively higher weight on price stability than the elderly, less skilled or not working. Our findings reinforce the political importance of employment and growth policies.