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Public Trust and Government Betrayal

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Book Description
The Federal Reserve Bank of Minneapolis presents the full text of the January 2001 staff report entitled "Public Trust and Government Betrayal," written by Christopher Phelan. The text is available in PDF format. This paper offers a simple model of government reputation that consists of characteristics of policy outcomes in less developed countries. The characteristics are governments that betray public trust and public trust that is regained only gradually.
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