Albinowski, Maciej; Ciżkowicz, Piotr; Rzońca, Andrzej - In: Applied Economics 46 (2014) 25, pp. 3090-3106
We analyse determinants of trust in the European Central Bank (ECB). Our main finding is that when households have pessimistic expectations, aggressive cuts in interest rates have an adverse effect on their trust in central bank. This result is in accordance with the 'lack-of-confidence shock'...