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Trust in public institutions over the business cycle

Author: Betsey Stevenson; Justin Wolfers; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2011.
Series: Working paper series (National Bureau of Economic Research), no. 16891.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
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  Read more...
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Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Betsey Stevenson; Justin Wolfers; National Bureau of Economic Research.
OCLC Number: 707923286
Notes: "March 2011."
Title from http://www.nber.org/papers/16891 viewed Mar. 21, 2011.
Description: 1 online resource (10 p.) : ill.
Series Title: Working paper series (National Bureau of Economic Research), no. 16891.
Responsibility: Betsey Stevenson, Justin Wolfers.

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.

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