{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,12,31]],"date-time":"2025-12-31T07:36:43Z","timestamp":1767166603724,"version":"3.48.0"},"reference-count":44,"publisher":"Editura Universitatii Alexandru Ioan Cuza din Iasi","issue":"SI","license":[{"start":{"date-parts":[[2025,8,13]],"date-time":"2025-08-13T00:00:00Z","timestamp":1755043200000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by-nc-nd\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Sci. Ann. Econ. Bus."],"abstract":"<jats:p>For the literature on crisis management, two of the most important undertakings are sense-making (what is going on) and meaning-making (causes and consequences; and solutions). They feed the public\u2019s understanding and support of crisis responses. Meaning-making is connected to change that emerges from the crisis, providing a relevant explanation of post-crisis policies: the way we perceive a crisis will determine to what extent we are willing to accept a post-crisis reform. The article addresses narratives of the European Central Bank\u2019s during the COVID-19 pandemic, building on the literature on crisis communication, and particularly on the \u201ccrisis-exploitation-reform script\u201d combined with literature on policy narratives. Our goal is to answer three interrelated research questions: how did the ECB frame the pandemic crisis? Were ECB\u2019s narratives crafted onto policy reform? How did the ECB shaped narratives in order to build up legitimacy?<\/jats:p>","DOI":"10.47743\/saeb-2025-0016","type":"journal-article","created":{"date-parts":[[2025,12,31]],"date-time":"2025-12-31T07:32:51Z","timestamp":1767166371000},"page":"1-17","source":"Crossref","is-referenced-by-count":0,"title":["Building Up Legitimacy? Analysis of the European Central Bank Narrative During the COVID-19 Crisis"],"prefix":"10.47743","volume":"72","author":[{"given":"Paulo","family":"Vila Maior","sequence":"first","affiliation":[]},{"given":"Isabel","family":"Camis\u00e3o","sequence":"additional","affiliation":[]}],"member":"27629","published-online":{"date-parts":[[2025,8,13]]},"reference":[{"key":"78017","doi-asserted-by":"crossref","unstructured":"Amtenbrink, F. (2002). On the Legitimacy and Democratic Accountability of the European Central Bank: Legal Arrangements and Practical Experiences. In A. Arnull & D. Wincott (Eds.), Accountability and Legitimacy in the European Union (pp. 147-163): Oxford University Press. http:\/\/dx.doi.org\/10.1093\/oso\/9780199255603.003.0009","DOI":"10.1093\/oso\/9780199255603.003.0009"},{"key":"78018","doi-asserted-by":"crossref","unstructured":"Amtenbrink, F. (2019). The European Central Bank\u2019s Intricate Independence Versus Accountability Conundrum in the Post-Crisis Governance Framework. Maastricht Journal of European and Comparative Law, 26(1), 165-179. http:\/\/dx.doi.org\/10.1177\/1023263X18822789","DOI":"10.1177\/1023263X18822789"},{"key":"78019","doi-asserted-by":"crossref","unstructured":"Backman, S., & Rhinard, M. (2018). The European Union\u2019s Capacities for Managing Crisis. Journal of Contingencies and Crisis Management, 26(2), 261-271. http:\/\/dx.doi.org\/10.1111\/1468-5973.12190","DOI":"10.1111\/1468-5973.12190"},{"key":"78020","doi-asserted-by":"crossref","unstructured":"Boin, A., & \u2019t Hart, P. (2022). From Crisis to Reform? Explore Three Post-COVID Pathways. Policy and Society, 41(1), 13-24. http:\/\/dx.doi.org\/10.1093\/polsoc\/puab007","DOI":"10.1093\/polsoc\/puab007"},{"key":"78021","doi-asserted-by":"crossref","unstructured":"Boin, A., \u2019t Hart, P., & McConnell, A. (2009). Crisis Exploitation: Political and Policy Impacts of Framing Contests. Journal of European Public Policy, 16(1), 81-106. http:\/\/dx.doi.org\/10.1080\/13501760802453221","DOI":"10.1080\/13501760802453221"},{"key":"78022","unstructured":"Boin, A., \u2019t Hart, P., Stern, E., & Sundelius, B. (2011). The Politics of Crisis Management Public Leadership Under Pressure: Cambridge University Press."},{"key":"78023","doi-asserted-by":"crossref","unstructured":"Boin, A., Kuipers, S., & Overdijk, W. (2013). Leadership in Times of Crisis: A Framework for Assessment. International Review of Public Administration, 18(1), 79-91. http:\/\/dx.doi.org\/10.1080\/12294659.2013.10805241","DOI":"10.1080\/12294659.2013.10805241"},{"key":"78024","doi-asserted-by":"crossref","unstructured":"Boin, A., McConnell, A., & t Hart, P. (2021). Governing the Pandemic: The Politics of Navigating a Mega-Crisis: Springer Nature. http:\/\/dx.doi.org\/10.1007\/978-3-030-72680-5","DOI":"10.1007\/978-3-030-72680-5"},{"key":"78025","doi-asserted-by":"crossref","unstructured":"Buiter, W. H. (1999). Alice in Euroland. Journal of Common Market Studies, 37(2), 181-209. http:\/\/dx.doi.org\/10.1111\/1468-5965.00159","DOI":"10.1111\/1468-5965.00159"},{"key":"78026","doi-asserted-by":"crossref","unstructured":"Capoccia, G., & Kelemen, D. (2007). The Study of Critical Junctures: Theory, Narrative and Counterfactuals in Historical Institutionalism. World Politics, 59(3), 341-369. http:\/\/dx.doi.org\/10.1017\/S0043887100020852","DOI":"10.1017\/S0043887100020852"},{"key":"78027","doi-asserted-by":"crossref","unstructured":"Chang, M. (2002). The Logic of Collective Responsibility in the European Monetary Integration. Journal of Public Policy, 22(2), 239-255. http:\/\/dx.doi.org\/10.1017\/S0143814X02005093","DOI":"10.1017\/S0143814X02005093"},{"key":"78028","unstructured":"de Guindos, L. (2020). Euro Area: Economic Outlook and Financial Stability During the Pandemic Crisis. Retrieved from https:\/\/service.betterregulation.com\/document\/445099"},{"key":"78029","unstructured":"de Guindos, L. (2022). Managing Europe\u2019s Economic Recovery After the Pandemic. Retrieved from https:\/\/www.ecb.europa.eu\/press\/key\/date\/2022\/html\/ecb.sp220210~2923b1c6d4.en.html"},{"key":"78030","unstructured":"Glencross, A. (2014). Democratic Inputs versus Output-Oriented Governance: The ECB\u2019s Evolving Role and the New Architecture of Legitimacy in the EU. Journal of International Organization Studies, 5(2), 23-36."},{"key":"78031","unstructured":"Lagarde, C. (2020a). Remarks at the Annual Meeting of the Council of Governors of the Arab Central Banks and Monetary Authorities. 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