Trust in the European Central Bank Throughout the Worldwide Financial Crisis and the European Debt Crisis

Berlemann, Michael

doi:10.1007/978-3-319-03104-0_3

Cited by 4 publications

(2 citation statements)

References 26 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…However, they conclude that the evolution of the macroeconomy is sufficient to explain the decline of trust and that there was not sufficient change in the regularities of the coefficient between normal and crisis times. Berlemann (2013) finds that the recent decline of trust in the ECB is attributable to financial and sovereign debt crises, even controlling for national macroeconomic factors. Focusing on the institutional commitments of the ECB, Kaltenthaler et al (2010) conclude that the citizens' lack of trust in the ECB is due to i) the deterioration of the economic situation; ii) the decline in belief in the European project and iii) the association of the ECB with troubles in the financial sector (Kaltenthaler et al, 2010, p.10).…”

Section: Trust and Economic Performancementioning

confidence: 96%

Trust in Institutions and Income Inequality in the Eurozone: The Role of the Crisis

Bonasia¹,

Canale²,

Liotti³

et al. 2016

View full text Add to dashboard Cite

income distribution, together with standard economic indicators such as unemployment and inflation, in the consolidation of supranational institutions. The empirical analysis also controls for financial market shocks, including domestic bond yields and stock market returns. The additional contribution is to analyze whether the sensitiveness of trust has been strengthened during the recent crisis, associating binary dummies to explanatory variables. The main conclusions can be summarized as follows: a) income inequality negatively affects trust in the EC and the EP in normal times; in crisis times, this relation is strengthened and extended to the ECB for one of the two indexes of trust considered; b) inflation and unemployment significantly affect trust in all European

show abstract

Section: Trust and Economic Performancementioning

confidence: 96%

Trust in Institutions and Income Inequality in the Eurozone: The Role of the Crisis

Bonasia¹,

Canale²,

Liotti³

et al. 2016

View full text Add to dashboard Cite

show abstract

“…However, they conclude that the evolution of the macro‐economy is sufficient to explain the decline of trust and that there was not sufficient change in the regularities of the coefficient between normal and crisis times. Berlemann () finds that the recent decline of trust in the ECB is attributable to financial and sovereign debt crises, even controlling for national macro‐economic factors. Focusing on the institutional commitments of the ECB, Kaltenthaler, Anderson, and Miller () conclude that the citizens’ lack of trust in the ECB is due to (a) the deterioration of the economic situation; (b) the decline in belief in the European project and (c) the association of the ECB with troubles in the financial sector (Kaltenthaler et al, , p. 10).…”

Section: Trust and Economic Performancementioning

confidence: 99%

Long‐run macro drivers of citizens’ mood in European institutions: An empirical assessment

Bonasia

Canale

2017

Metroeconomica

View full text Add to dashboard Cite

The aim of the paper is to detect, through dynamic panel data techniques, the long-run macro drivers of citizens' mood toward European institutions and to support the existence of an inverse relationship both in the short and in the long-run between trust on one side and the rate of unemployment and the discretionary fiscal policy measures on the other. This is valid in the whole Eurozone and in particular in peripheral countries. This outcome gives support to the conclusion that the process of institutional consolidation should pass through a greater political sensibility toward some specific economic variables.

show abstract

Trust in the European Union project and the role of ECB

Liotti

Canale

2021

Econ Polit

View full text Add to dashboard Cite

Was the European Central Bank able to assure the relaunch of the European project after the weakening of the post-crisis period? To answer this question, this paper presents an empirical analysis connecting citizen trust in the European Union with a variable intended to be a measure of the monetary policy strategy of the European Central Bank, namely, the interest rate on government bonds extracted from the 1-year maturity yield curve. The dynamic panel technique, applied to nineteen Eurozone countries for the time span of 2004–2018, estimates the presence of a long-run common relationship between the variables despite allowing different short-run adjustment mechanisms. Results are revealed to be not univocal: the easy monetary policy strategy is associated for the whole period with a decline of trust, and therefore, despite its impressiveness, it was not sufficient to relaunch the European Union project. However, when considering the change in strategy of the post-2013 period, it seemed to have contributed to a slight inversion of the decline of trust. These results highlight the importance of non-conventional measures and call for further support from coordinated policy action as a response to the negative shock deriving from the COVID-19 pandemic.

show abstract

Trust in the European Central Bank Throughout the Worldwide Financial Crisis and the European Debt Crisis

Cited by 4 publications

References 26 publications

Trust in Institutions and Income Inequality in the Eurozone: The Role of the Crisis

Trust in Institutions and Income Inequality in the Eurozone: The Role of the Crisis

Long‐run macro drivers of citizens’ mood in European institutions: An empirical assessment

Trust in the European Union project and the role of ECB

Contact Info

Product

Resources

About