Macroprudential policy and aggregate demand

André Teixeira; Zoe Venter

Macroprudential policy and aggregate demand

André Teixeira
, Zoe Venter

Research output: Contribution to journal › Article › peer-review

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Abstract

This paper assesses the impact of macroprudential policy (MaPP) on aggregate demand in the EU between 2000 and 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 language	English
Pages (from-to)	1-40
Number of pages	40
Journal	International Journal of Central Banking
Volume	19
Issue number	4
Publication status	Published - 1 Nov 2023

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities

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87982799Final published version, 1.22 MBLicence: Unspecified

http://hdl.handle.net/10400.14/42999Licence: Unspecified

1 Finished

CUBE: Católica Lisbon Research Unit in Business and Economics
Machado, F. (PI), Aranda, A. M. (Researcher), Costa, A. I. D. A. (Researcher), Martins, A. P. (Researcher), Bernard, A. (Researcher), Fidalgo, A. (Researcher), Reis, C. (Researcher), Abecassis-Moedas, C. (Researcher), Santos, C. (Researcher), Tran, D. (Researcher), Fernandes, D. (Researcher), Bonfim, D. (Researcher), Schliephake, E. (Researcher), Kalogirou, F. (Researcher), Reis, F. (Researcher), Santos, F. (Researcher), Machado, F. (Researcher), Sguera, F. (Researcher), Cerqueiro, G. (Researcher), Reis, H. (Researcher), Barreto, I. (Researcher), Silva, J. (Researcher), Salvado, J. C. (Researcher), Neves, J. C. D. (Researcher), Gijsbrechts, J. (Researcher), Stahl, J. (Researcher), Guedes, J. C. (Researcher), Faias, J. (Researcher), Wagner, L. (Researcher), Correia, I. (Researcher), Saldanha, M. F. (Researcher), Fontes, J. C. (Researcher), Modesto, L. (Researcher), Meira, M. (Researcher), Matos, M. G. D. (Researcher), Gouveia, M. (Researcher), Kozeniauskas, N. (Researcher), Bertani, N. (Researcher), Couzoff, P. (Researcher), Barroso, P. (Researcher), Encarnação, P. (Researcher), Raposo, P. (Researcher), Teles, P. (Researcher), Bastos, W. (Researcher), Bohnsack, R. (Researcher), Vale, R. C. D. (Researcher), Ferreira, R. (Researcher), Lloyd-Braga, T. (Researcher), Ramus, T. (Researcher), Colaço, V. H. (Researcher), Cavicchini, A. (Researcher), Parada, P. (Researcher), Pieters, R. (Researcher), Pinto, F. S. (Researcher), Colaço, V. H. (Researcher) & Venter, Z. (Researcher)
1/01/20 → 31/12/25
Project: Research

1 Preprint

Macroprudential policy and aggregate demand
Teixeira, A. & Venter, Z., 7 Mar 2022, 42 p.
Research output: Working paper › Preprint

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abstract = "This paper assesses the impact of macroprudential policy (MaPP) on aggregate demand in the EU between 2000 and 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.",

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AB - This paper assesses the impact of macroprudential policy (MaPP) on aggregate demand in the EU between 2000 and 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.

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Macroprudential policy and aggregate demand

Abstract

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Projects

CUBE: Católica Lisbon Research Unit in Business and Economics

Research output

Macroprudential policy and aggregate demand

Cite this