The dynamic effect of macroprudential policies on income inequality: some evidence

• Panagiotis Konstantinou ^[1] ; Anastasios Rizos ; Artemis Stratopoulou ^[1]
  1. [1] Athens University
• Localización: Economics and Business Letters, ISSN-e 2254-4380, Vol. 12, Nº. Extra 3, 2023 (Ejemplar dedicado a: selected papers from AMEF 2022 Greece (Editor-in-Charge: Theodore Panagiotidis)), págs. 248-265
• Idioma: inglés
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• Resumen

  • We study the dynamic effects of the adoption of macroprudential policies on income inequality over the period 1990 - 2015. We utilize local projections for horizons up to 5 years, and we document that the implementation of borrower-targeted MAPs increases income inequality since they pose obstacles to the access to credit based on household-specific characteristics; however, some financial institutions-targeted instruments (i.e., capital and reserve requirements) lead to a more equal income distribution.