Does macroprudential policy affect wealth inequality? Evidence from synthetic controls
利用171国数据，发现宏观审慎政策实施后十年内，受政策国家的财富集中度上升3.4个百分点，主要源于最富1%人群财富份额增加而最穷50%人群份额大幅下降。
This paper examines the effects of macroprudential policy (MaPP) on wealth inequality using a large dataset of 171 countries. I find that, after the adoption of MaPP, wealth concentration in the treated countries increases by 3.4 percentage points in a decade. This finding is explained by a rise in the wealth share of the top 1% combined with a sharp decline in the wealth share of the bottom 50%. These effects are stronger for prudential rules based on income, particularly in advanced economies.