Trust in the ECB: Drivers and consequences

We use a survey among Dutch households to analyze trust in the European Central Bank (ECB). Our results confirm a positive association between respondents’ right-wing ideology, knowledge of the ECB, and trust in other European institutions on the one hand and trust in the ECB on the other. A novel result is that we also find that individuals who were clients of a bank that received government support during the global financial crisis trust the ECB more. Furthermore, our results suggest that inflation expectations of respondents who trust the ECB are more in line with the ECB’s inflation target.

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