02608cam a2200289 a 4500 1/51295 051123s2004 lu u pdd 0 0eng 92-894-5970-0 1016-8060 (print) 1725-3187 (online) ECFIN/003096/04-EN 33166 GR-PeUP eng ΚΕΤ Αλφαβητική σειρά Jonung, Lars. To be or not to be ? : benefits and costs of monetary unification as perceived by voters in the Swedish euro referendum 2003 / Lars Jonung. Brussels ; Belgium : European Commission: Directorate-General for Economic and Financial Affairs, 2004. 32 σ. ; 30 εκ. 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. Economic Papers Wood, Christina A. European Commission : Directorate-General for Economic and Financial Affairs. Economic papers June 2004, No 205. European Economy. Economic papers ; 205. INST UNIPILB KET 20090311 EEEP 205 EEEP 205 NOLOAN 23 1 http://ec.europa.eu/economy_finance/publications/publication_summary704_en.htm