A Trust Crisis, International Review of Finance
We conjecture that the changes in economic activity from late 2008 to early 2009 is due to a drop in trust. We present new survey evidence consistent with this hypothesis.
Paola Sapienza, Luigi Zingales
Sapienza, Paola, and Luigi Zingales. 2012. A Trust Crisis. International Review of Finance. 12(2): 123-131.