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

Author

Listed:
  • Immordino Giovanni

    (Department of Economics and Statistics, University of Naples Federico II, Napoli, Italy)

  • Oliviero Tommaso
  • Zazzaro Alberto

    (Universita degli Studi di Napoli Federico II Complesso Universitario di Monte Sant’Angelo, Napoli, Italy)

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.

Suggested Citation

  • Immordino Giovanni & Oliviero Tommaso & Zazzaro Alberto, 2022. "Income Losses, Cash Transfers and Trust in Financial and Political Institutions: Survey Evidence from the Covid-19 Crisis," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 22(3), pages 647-654, July.
    • Handle: RePEc:bpj:bejeap:v:22:y:2022:i:3:p:647-654:n:11
    DOI: 10.1515/bejeap-2022-0108
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    Keywords

    Covid-19 crisis; trust in institutions; cash transfers;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs

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