Objective: Exogenous shocks trigger rally effects, leading the public opinion toward increased trust in institutions. Rally effects have an important social function because they help society react to shocks rapidly and efficiently as a single unit and cohesively face the threat. However, little is known about the individual functions that these effects fulfil. In this study, we aimed to analyze the individual functions of the rally effect.Method: In a three‐wave longitudinal study on a quota sample of the Italian adult population (N = 1070), we analyzed the individual consequences of the increase in institutional trust triggered by the COVID‐19 pandemic.Results: A path analysis showed that increased trust in political, super partes and international institutions fostered well‐being, reducing anxiety, collective angst, and anger via the mediation of participants’ perceived control over their lives.Conclusion: Beyond their well‐known social functions, rally effects fulfil the individual function of favoring people's psychological well‐being.

Using the Consequences of COVID-19 (COCO) dataset (quota sample of the adult Italian population, surveyed seven times by email), we analysed the trend of trust in political (political parties, parliament and local administrations), super partes (president of the Republic, judiciary and police) and international (the European Union and the United Nations) institutions from June 2019 to October 2022. Three latent growth curve models showed that trust in political institutions increased between June 2019 and April 2020 and subsequently decreased below the pre-pandemic level. Trust in super partes institutions decreased slightly between June 2019 and April 2020, decreased from April 2020 to April 2022 and increased in the subsequent months. Trust in international institutions declined between June 2019 and April 2020 and then returned to pre-pandemic levels. Three piecewise decompositions showed different trends in trust for non-populist voters, populist voters and non-voters. Strengths, weaknesses and possible developments of the study are discussed.