Trust dynamics after financial distress: evidence from Euro member countries

Markus Leibrecht and Johann Scharler

Applied Economics Letters, 2022, vol. 29, issue 2, 91-96

Abstract: We investigate the dynamic adjustment of trust in the European Central Bank and the European Commission to financial distress using aggregate data from the Eurobarometer surveys and the financial distress indicator of Romer and Romer (2017). Financial distress has a pronounced negative impact on trust and the dynamic adjustment of trust is similar to the response of real GDP to financial distress. Weak labour market conditions prior to financial distress prolong the adjustment process.

Date: 2022
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DOI: 10.1080/13504851.2020.1855308

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