Following the global financial crisis (GFC) of 2008 there was recognition that client trust in financial institutions had been damaged. While institutional trust has become an accepted barometer, less is known about who trusts the banking and finance sector and who does not. This paper...

This paper re-examines the VAR analysis of the price puzzle with regard to the issues of measurement, identification and misspecification. In an empirical analysis conducted for the US economy, we consider alternative measures of economic activity and inflation, alternative assumptions to...

We propose and estimate several discrete choice models of monetary policy decision-making that feature time-varying inertia. The models permit us to account for three stylized facts characterizing monetary policymaking in the United States: (1) target interest rates are gradually adjusted in...