Abstract

http://ssrn.com/abstract=1793748
 
 

References (5)



 
 

Citations (8)



 


 



Trust in Public Institutions Over the Business Cycle


Betsey Stevenson


University of Michigan

Justin Wolfers


University of Michigan at Ann Arbor - Department of Economics; The Ford School of Public Policy, University of Michigan; The Brookings Institution; National Bureau of Economic Research (NBER); Institute for the Study of Labor (IZA); Centre for Economic Policy Research (CEPR); CESifo (Center for Economic Studies and Ifo Institute); Kiel Institute for the World Economy

March 24, 2011

CESifo Working Paper Series No. 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.

Number of Pages in PDF File: 12

Keywords: trust, institutions, confidence, survey data, congress, banks, big business, media, courts

JEL Classification: D720, E320, E650, K000, O400, P520, Z130

working papers series


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Date posted: March 29, 2011  

Suggested Citation

Stevenson, Betsey and Wolfers, Justin, Trust in Public Institutions Over the Business Cycle (March 24, 2011). CESifo Working Paper Series No. 3389. Available at SSRN: http://ssrn.com/abstract=1793748

Contact Information

Betsey Stevenson (Contact Author)
University of Michigan ( email )
701 Tappan St. Rm E2600
Ann Arbor, MI 48109
United States
Justin Wolfers
University of Michigan at Ann Arbor - Department of Economics ( email )
611 Tappan Street
Ann Arbor, MI 48109-1220
United States
734-764-2447 (Phone)
HOME PAGE: http://www.nber.org/~jwolfers
The Ford School of Public Policy, University of Michigan ( email )
735 South State Street, Weill Hall
Ann Arbor, MI 48109
United States
734-615-6846 (Phone)
HOME PAGE: http://www.nber.org/~jwolfers
The Brookings Institution ( email )
1775 Massachusetts Avenue, NW
Washington, DC 20036
United States
HOME PAGE: http://www.nber.org/~jwolfers
National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
HOME PAGE: http://www.nber.org/~jwolfers
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
HOME PAGE: http://www.iza.org/en/webcontent/personnel/photos/index_html?key=1737
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
HOME PAGE: http://www.cepr.org/researchers/details/rschcontact.asp?IDENT=157943
CESifo (Center for Economic Studies and Ifo Institute) ( email )
Poschinger Str. 5
Munich, DE-81679
Germany
Kiel Institute for the World Economy ( email )
P.O. Box 4309
Kiel, D-24100
Germany
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References:  5
Citations:  8

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