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Title:Trust in public institutions over the business cycle PDF Logo
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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