Advanced Search
MyIDEAS: Login to save this paper or follow this series

Has the financial crisis eroded citizens' trust in the European Central Bank? Panel data evidence for the Euro area, 1999-2011

Contents:

Author Info

  • Roth, Felix
  • Gros, Daniel
  • Nowak-Lehmann D., Felicitas

Abstract

In the aftermath of the financial crisis trust, in the European Central Bank (ECB) has reached an historical low. Taking panel data and using a fixed effects DFGLS estimation for a 12–country sample over the time period 1999 to 2011 with a total of 312 observations, this paper detects a structural break in citizens’ trust in the ECB. The paper confirms that during the pre-crisis period, citizens’ trust in the ECB was driven by economic growth. In crisis time, however, trust in the ECB is both driven by inflation and unemployment. --

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://econstor.eu/bitstream/10419/70218/1/124_revised.pdf
Download Restriction: no

Bibliographic Info

Paper provided by University of Goettingen, Department of Economics in its series Center for European, Governance and Economic Development Research Discussion Papers with number 124.

as in new window
Length:
Date of creation: 2012
Date of revision:
Handle: RePEc:zbw:cegedp:124

Contact details of provider:
Postal: Platz der Göttinger Sieben 3, 37073 Göttingen
Web page: http://www.cege.wiso.uni-goettingen.de/
More information through EDIRC

Related research

Keywords: Financial Crisis; Trust; European Central Bank;

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Fran Tonkiss, 2009. "Trust, confidence and economic crisis," Intereconomics: Review of European Economic Policy, Springer, vol. 44(4), pages 196-202, July.
  2. Stock, James H & Watson, Mark W, 1993. "A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems," Econometrica, Econometric Society, vol. 61(4), pages 783-820, July.
  3. Betsey Stevenson & Justin Wolfers, 2011. "Trust in Public Institutions over the Business Cycle," NBER Working Papers 16891, National Bureau of Economic Research, Inc.
  4. Karl Kaltenthaler & Christopher J. Anderson & William J. Miller, 2010. "Accountability and Independent Central Banks: Europeans and Distrust of the European Central Bank," Journal of Common Market Studies, Wiley Blackwell, vol. 48, pages 1261-1281, November.
  5. Etienne Farvaque & Muhammad- Azmat Hayat & Alexander Mihailov, 2012. "Who Supports the ECB? Evidence from Eurobarometer Survey Data," Working Papers hal-00995032, HAL.
  6. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
  7. Eijffinger, S. & De Hann, J., 1995. "The Political Economy of Central Bank Independence," Papers 9587, Tilburg - Center for Economic Research.
  8. Aninday Banerjee & Markus Eberhardt & J James Reade, 2010. "Panel Estimation for Worriers," Discussion Papers 10-33, Department of Economics, University of Birmingham.
  9. Gartner, Manfred, 1997. " Who Wants the Euro--And Why? Economic Explanations of Public Attitudes towards a Single European Currency," Public Choice, Springer, vol. 93(3-4), pages 487-510, December.
  10. Felix Roth, 2009. "Does Too Much Trust Hamper Economic Growth?," Kyklos, Wiley Blackwell, vol. 62(1), pages 103-128, 02.
  11. Nannestad, Peter & Paldam, Martin, 1994. " The VP-Function: A Survey of the Literature on Vote and Popularity Functions after 25 Years," Public Choice, Springer, vol. 79(3-4), pages 213-45, June.
  12. ,, 2009. "Economics of Monetary Union," OUP Catalogue, Oxford University Press, edition 8, number 9780199563234, September.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Albinowski, Maciej & Ciżkowicz, Piotr & Rzońca, Andrzej, 2013. "Distrust in the ECB – product of failed crisis prevention or of inappropriate cure?," MPRA Paper 48242, University Library of Munich, Germany.
  2. Bernd Hayo & Edith Neuenkirch, 2013. "The German Public and its Trust in the ECB: The Role of Knowledge and Information Search," MAGKS Papers on Economics 201347, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:zbw:cegedp:124. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.