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DESCRIPTION;ENCODING=QUOTED-PRINTABLE:BOFIT Seminar - Simona Malovaná (Czech National Bank) - Macroprudential Policy and Income Inequality: The Trade-off Between Crisis Prevention and Credit Redistribution Co-authors: Jan Janků (Czech National Bank) and Martin Hodula (Czech National Bank) Abstract Using data on 105 countries from 1990 to 2019 and a lag-augmented local projection method, we document that macroprudential policy tightening affects income inequality through two key channels: the crisis mitigation and prevention channel and the credit redistribution channel. Through the first of these, tighter regulation during credit booms reduces income inequality and mitigates the redistributive effects of financial crises, reflecting the enhanced financial sector’s resilience. Through the second, it contributes to higher inequality due to its negative effect on credit growth and property prices. This has important policy implications: the timely implementation of macroprudential regulation has preventive effects and can contribute to a more equal distribution of society’s income. =0D=0A Online BOFIT seminars are open to all researchers interested in the subjects covered. Those wishing to attend a seminar are kindly asked to register in advance, by filling in the Online Registration Form . =0D=0A The registration for the seminar is open until 8:00 am the day of the seminar. You will receive a link to join the seminar by email at the latest one hour before the seminar is scheduled to begin. =0D=0A
DTEND:20240521T072500Z
DTSTAMP:20240425T064656Z
DTSTART:20240521T063000Z
LOCATION:MS Teams
SUMMARY:Simona Malovaná (Czech National Bank) - Macroprudential Policy and Income Inequality: The Trade-off Between Crisis Prevention and Credit Redistribution
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