Is macroprudential policy driving savings?

André Teixeira, Zoë Venter

Research output: Working paper



This paper assesses the impact of macroprudential policy (MaPP) on aggregate demand in the EU between 2000-2019. Using a difference-in-differences approach, we find that MaPP reduces household consumption and increases firm investment. These effects are relatively mild in the short run but become more pronounced in the long run. Our findings point to a weaker macroeconomic impact than suggested in previous studies.
Original languageEnglish
PublisherUniversidade de Lisboa
Number of pages44
Publication statusPublished - Jun 2021

Publication series

NameREM Working Paper Series
ISSN (Electronic)2184-108X


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