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Was Brexit triggered by the old and unhappy? Or by financial feelings?
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Liberini, Federica, Oswald, Andrew J. , Proto, Eugenio and Redoano, Michela (2019) Was Brexit triggered by the old and unhappy? Or by financial feelings? Journal of Economic Behavior & Organization, 161 . pp. 287-302. doi:10.1016/j.jebo.2019.03.024
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Official URL: http://dx.doi.org/10.1016/j.jebo.2019.03.024
Abstract
On 23 June 2016, the United Kingdom voted in favour of ‘Brexit’. This paper is an attempt to understand why. It examines the micro-econometric predictors of anti-EU sentiment. The paper provides the first evidence for the idea that a key channel of influence was through a person’s feelings about his or her own financial situation. By contrast, the paper finds relatively little regression-equation evidence for the widely discussed idea that Brexit was favoured by the old and the unhappy. The analysis shows that UK citizens’ feelings about their incomes were a substantially better predictor of pro-Brexit views than their actual incomes. This seems an important message for economists, because the subject of economics has typically avoided the study of human feelings in favour of ‘objective’ data.
| Item Type: | Journal Article | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HC Economic History and Conditions | ||||||||
| Divisions: | Faculty of Social Sciences > Economics | ||||||||
| Library of Congress Subject Headings (LCSH): | European Union -- Great Britain -- Psychological aspects, Income -- Psychological aspects -- Great Britain | ||||||||
| Journal or Publication Title: | Journal of Economic Behavior & Organization | ||||||||
| Publisher: | Elsevier BV * North-Holland | ||||||||
| ISSN: | 0167-2681 | ||||||||
| Official Date: | May 2019 | ||||||||
| Dates: |
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| Date of first compliant deposit: | 23 April 2019 | ||||||||
| Volume: | 161 | ||||||||
| Page Range: | pp. 287-302 | ||||||||
| DOI: | 10.1016/j.jebo.2019.03.024 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access |
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