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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/46385
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| Title: | | Trust in public institutions over the business cycle  |
| Authors: | | Stevenson, Betsey Wolfers, Justin |
| Issue Date: | | 2011 |
| Series/Report no.: | | CESifo working paper: Public Choice 3389 |
| Abstract: | | We document that trust in public institutions - and particularly trust in banks, business and government - has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear legacy of the Great Recession, and those countries whose unemployment grew the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial sector. Finally, analysis of several repeated cross-sections of confidence within U.S. states yields similar qualitative patterns, but much smaller magnitudes in response to state-specific shocks. |
| Subjects: | | trust institutions confidence survey data congress banks big business media courts |
| JEL: | | D72 E32 E65 K00 O40 P52 Z13 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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