Trust in Public Institutions Over the Business Cycle
12 Pages Posted: 29 Mar 2011
There are 5 versions of this paper
Trust in Public Institutions Over the Business Cycle
Trust in Public Institutions over the Business Cycle
Trust in Public Institutions Over the Business Cycle
Trust in Public Institutions Over the Business Cycle
Trust in Public Institutions Over the Business Cycle
Date Written: March 24, 2011
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.
Keywords: trust, institutions, confidence, survey data, congress, banks, big business, media, courts
JEL Classification: D720, E320, E650, K000, O400, P520, Z130
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox
By Betsey Stevenson and Justin Wolfers
-
Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox
By Betsey Stevenson and Justin Wolfers
-
Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox
By Betsey Stevenson and Justin Wolfers
-
Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox
By Betsey Stevenson and Justin Wolfers
-
Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox
By Betsey Stevenson and Justin Wolfers
-
Is Business Cycle Volatility Costly? Evidence from Surveys of Subjective Wellbeing
-
Is Business Cycle Volatility Costly? Evidence from Surveys of Subjective Wellbeing
-
Income, Aging, Health and Wellbeing Around the World: Evidence from the Gallup World Poll
By Angus Deaton
-
The Paradox of Declining Female Happiness
By Betsey Stevenson and Justin Wolfers
-
The Paradox of Declining Female Happiness
By Betsey Stevenson and Justin Wolfers