governments exhibit greater concern for aggregate welfare than others. This government behavior may itself be endogenously … determinants of the differences in government behavior across countries …

government is currently servicing, on world financial markets. After the Surge, there was a sharp decline in the price of those …

In a cross-section of countries, government regulation is strongly negatively correlated with social capital. We … model is that individuals in low trust countries want more government intervention even though the government is corrupt. We … government's role, as well as on changes in beliefs and in trust during the transition from socialism …

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 … sector. Finally, analysis of several repeated cross-sections of confidence within U.S. states yields similar qualitative …

arise in equilibrium. We address these questions in a reputation model in which the central government can either be a … government's reputation is low enough, then fiscal rules can lead to even more debt accumulation relative to the case with no … rules. This is because the punishment for violating the fiscal rule worsens the payoffs of preserving reputation. Despite …

emerging economies. We show that governments in emerging economies are more concerned about their reputation and tend to ride … that would help prevent potential crises. We provide evidence of the relevance of this reputation mechanism …

We develop a theory of trust in lending, distinguishing between trust and reputation, and use it to analyze the … financing, whereas a loss of investor trust makes this access conditional on market conditions and lender reputation. Banks …