Determinants of Trust in the European Central Bank

Fischer, Justina; Hahn, Volker

Determinants of Trust in the European Central Bank

Dateien

48_No26_08_04_TWI_RPS_Fischer_Hahn.pdfGröße: 999.12 KBDownloads: 613

Datum

2008

Autor:innen

Fischer, Justina

Hahn, Volker

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Working Paper/Technical Report

Publikationsstatus

Published

Zusammenfassung

In this paper we study the determinants of citizens trust in the European Central Bank during the start-up phase from 1999-2004. Using a country panel based on the Eurobarometer survey, we find that higher inflation rates reduce trust. Thus people appear to evaluate the performance of the ECB on the basis of its success in achieving its primary objective, namely price stability. However, national income also has a strong impact, which poses a dilemma to the ECB, as it cannot increase economic growth in the long run. Unemployment does not have a significant impact on trust in the ECB, while unemployment spending exerts a trust-building impact. Possibly, automatic stabilizers serve as substitutes for ECB interventions, which would lower people s trust. Interestingly, active labor market policies, which can be interpreted as proxies for the public s perception of the urgency of the problem of high unemployment, tend to decrease trust.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Determinants, Trust, European Central Bank

Zitieren

ISO 690

FISCHER, Justina, Volker HAHN, 2008. Determinants of Trust in the European Central Bank

BibTex

@techreport{Fischer2008Deter-12190,
  year={2008},
  series={Research paper series / Thurgauer Wirtschaftsinstitut},
  title={Determinants of Trust in the European Central Bank},
  number={26},
  author={Fischer, Justina and Hahn, Volker}
}

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Universitätsbibliographie

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