Macroprudential policies, capital controls, and income inequality
This paper investigates the impact of macroprudential policies, capital controls, and their joint effect on income inequality. Using a panel dataset covering 60 countries from 2000 to 2019, we find that macroprudential policies and capital controls can mitigate income inequality, which are robust to...
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| Veröffentlicht in: | Review of international economics 2024-09, Vol.32 (4), p.1824-1867 |
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| container_issue | 4 |
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| container_title | Review of international economics |
| container_volume | 32 |
| creator | You, Yu Hu, Xiaoying Huang, Zongye |
| description | This paper investigates the impact of macroprudential policies, capital controls, and their joint effect on income inequality. Using a panel dataset covering 60 countries from 2000 to 2019, we find that macroprudential policies and capital controls can mitigate income inequality, which are robust to various subsets of policy indexes. However, the effectiveness of macroprudential policies on income inequality depends on the tightness of capital controls. We verify that macroprudential policies affect income inequality through private sector leverage, and both capital controls and macroprudential policies have significant influences on gross capital flows and net capital flows to affect income inequality. |
| doi_str_mv | 10.1111/roie.12756 |
| format | Article |
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| identifier | ISSN: 0965-7576 |
| ispartof | Review of international economics, 2024-09, Vol.32 (4), p.1824-1867 |
| issn | 0965-7576 1467-9396 |
| language | eng |
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| source | Wiley Online Library Journals Frontfile Complete |
| subjects | capital controls Capital movement Income inequality macroprudential policies Private sector Subsets |
| title | Macroprudential policies, capital controls, and income inequality |
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