the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial …We document that trust in public institutions--and particularly trust in banks, business and government--has declined … over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in …

openness and government size and we explore its determinants. Consistently with the terms of trade externality channel, we show …

economy, namely an increase in the share of government spending in GDP and an increase in female labour force participation … economy is endogenous so that participation in market activities and government size are causally related. Economic growth and … of staying at home increases. We hypothesize that government spending decreases the cost of performing household chores …

of capital adjustment to an otherwise standard RBC model can generate a negative correlation between government size and … correlation between government size and the volatility of consumption, we modify the model by introducing rule-of-thumb consumers …. In this modified version of our initial model we observe that consumption volatility is also reduced when government size …

government. We show that for a panel of 157 countries spanning more than half a century rainfall volatility has a significant … volatility has also a significant positive reduced-form effect on the GDP share of government. There is no significant reduced … temperatures yields that greater GDP per capita volatility leads to a significantly higher GDP share of government. …

related to the share of government consumption in GDP in regressions that also include indicators of financial regulation and …

international financial decision-making, also as it relates to the legitimacy of the international system in the eyes of the public …

the preservation of the central bank’s legitimacy requires that a clear line be drawn between the central bank’s provision …

We study the pricing of political uncertainty in a general equilibrium model of government policy choice. We find that … reduces the value of the implicit put protection that the government provides to the market. It also makes stocks more … volatile and more correlated when the economy is weak. In addition, we find that government policies cannot be judged by the …