For academia, further analytical work is needed to understand the link between micro-decision making and macroeconomic outcomes. Academia can also contribute to designing good policy evaluation studies and improving teaching of financial stability. For central banks, acknowledging the role of communication for financial stability is important. Exploiting synergies between policy areas dealing with financial stability and financial literacy can be fruitful.
Trust, as I will use the term today, is more than a simple belief in something or someone without supporting evidence. Trust is what develops when a group of people share an understanding that the rules for behaviour governing their system or society work well and make things better for everyone.