Explaining EU Citizens' Trust in the ECB in Normal and Crisis Times

Michael Ehrmann, Michel Soudan and Livio Stracca
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Michel Soudan: European Central Bank, Frankfurt/Main, Germany

No 289, Economics Series from Institute for Advanced Studies

Abstract: We study the determinants of trust in the ECB as measured by the European Commission’s Eurobarometer survey in particular during the global financial crisis and the European sovereign debt crisis. We find that the fall in trust in the ECB in crisis times can be rather well explained based on the pre-crisis determinants, and show that the fall in trust reflected the macroeconomic deterioration, a more generalised fall in the trust in European institutions in the wake of the crisis as well as the severity of the banking sector’s problems, to which the ECB was associated in the public opinion.

Keywords: Trust; Eurobarometer; Global financial crisis; Public opinion; European Central Bank (search for similar items in EconPapers)
JEL-codes: E58 G21 Z13 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2012-08
New Economics Papers: this item is included in nep-cba, nep-eec, nep-mac and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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https://irihs.ihs.ac.at/id/eprint/2155 First version, 2012 (application/pdf)

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Working Paper: Explaining EU citizens’ trust in the ECB in normal and crisis times (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ihs:ihsesp:289

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