Income Losses, Cash Transfers and Trust in Financial and Political Institutions: Survey Evidence from the Covid-19 Crisis

Giovanni Immordino, Tommaso Oliviero () and Alberto Zazzaro ()

The B.E. Journal of Economic Analysis & Policy, 2022, vol. 22, issue 3, 647-654

Abstract: Using a survey of Italian households, we find that large income losses suffered during the first wave of the Covid-19 pandemic in 2020 are associated with a decline in trust towards political (i.e. Italian Central Government and the EU Parliament) and financial (i.e. ECB and Italian commercial banks) institutions in the management of the Covid-19. The decline is lower for households who received public transfers in the wake of the pandemic. Our results highlight that household exposure to economic losses if not compensated by government income support measures are an important determinant of mistrust in institutions for the management of an economic crisis.

Keywords: Covid-19 crisis; trust in institutions; cash transfers (search for similar items in EconPapers)
JEL-codes: D12 D72 H53 (search for similar items in EconPapers)
Date: 2022
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Working Paper: Income Losses, Cash Transfers and Trust in Financial and Political Institutions: Survey Evidence from the Covid-19 Crisis (2022)
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DOI: 10.1515/bejeap-2022-0108

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