The Protestant Fiscal Ethic: Religious Confession and Euro Skepticism in Germany

Chadi, Adrian and Krapf, Matthias. (2017) The Protestant Fiscal Ethic: Religious Confession and Euro Skepticism in Germany. Economic inquiry, 55 (4). pp. 1813-1832.

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During the European sovereign debt crisis, most countries that ran into fiscal trouble had Catholic majorities, whereas countries with Protestant majorities were able to avoid fiscal problems. We find that Christian‐conservative members of the German parliament from constituencies with higher shares of Protestants were more likely to vote against a third bailout for Greece. Survey data show that views on the euro differ between German Protestants and non‐Protestants at the individual level, too. Among Protestants, concerns about the euro have, compared to non‐Protestants, increased during the crisis. We show that this increase in concern is linked to a reduction of Protestants' subjective well‐being. We use the timing of survey interviews and news events in 2011 to account for the endogeneity of euro concerns. Emphasis on moral hazard concerns in Protestant theology may, thus, still shape economic preferences.
Faculties and Departments:06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Angewandte Ökonometrie (Schmidheiny)
UniBasel Contributors:Krapf, Matthias
Item Type:Article, refereed
Article Subtype:Research Article
Note:Publication type according to Uni Basel Research Database: Journal article
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Last Modified:28 Jul 2018 12:00
Deposited On:28 Jul 2018 12:00

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