Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/88705
Authors: 
Bursian, Dirk
Fürth, Sven
Year of Publication: 
2013
Series/Report no.: 
SAFE Working Paper Series 31
Abstract: 
In the aftermath of the financial crisis, the ECB has experienced an unprecedented deterioration in the level of trust. This raises the question as to what factors determine trust in central banking. We use a unique cross-country dataset which includes a rich set of socio-economic characteristics and supplement it with variables meant to reflect a country's macroeconomic condition. We find that besides individual socio-economic characteristics, macroeconomic conditions play a crucial role in the trust-building process. Our results suggest that agents are boundedly rational in the trust-building process and that current ECB market operations may even be beneficial for trust in the ECB in the long-run.
Subjects: 
Central Banking
European Central Bank
Financial Crisis
Fiscal Crisis
Trust
JEL: 
D1
E5
G21
H6
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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