A note on trust in the ECB in the era of sovereign debt crisis

ABSTRACT

We employ Eurobarometer data on trust in the ECB, exploring whether trust is affected by sovereign credit rating episodes and the participation in economic adjustment programmes (EAPs) (bailout schemes). Controlling for several sociodemographic factors and macroeconomic conditions, we document a substantial negative impact on trust in ECB for countries experiencing downgrade episodes and participating in EAPs.

KEYWORDS:

• ECB
• probit
• trust

JEL CLASSIFICATION:

• C25
• G28

Disclosure statement

No potential conflict of interest was reported by the authors.