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

Panagiotis Konstantinou, Anastasios Rizos and Artemis Stratopoulou

Economics and Business Letters, 2023, vol. 12, issue 3, 248-265

Abstract: 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.Â

Date: 2023
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