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MACROPRUDENTIAL POLICY, DEBT AND SOCIAL SUSTAINABILITY: EVIDENCE FROM SPANISH FIRMS
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The need for a resilient financial system post-Great Recession led to the incorporation of macroprudential tools to the policy mix. While these policies aim to achieve financial stability their potential impact on social sustainability deserves examination. We assess the impact of macroprudential policies on social sustainability in its attempt to strengthen the financial sector after the Global Financial Crisis, evaluating if they resulted in new gender inequalities in the labour market. The analysis uses panel regressions with data for more than 900,000 Spanish firms over the period 2010 to 2021, combined with a database on the loosening or tightening use of macroprudential measures in Spain during that period. We find that macroprudential policy might have a role in the fight against inequality in the labour market.
Title: MACROPRUDENTIAL POLICY, DEBT AND SOCIAL SUSTAINABILITY: EVIDENCE FROM SPANISH FIRMS
Description:
The need for a resilient financial system post-Great Recession led to the incorporation of macroprudential tools to the policy mix.
While these policies aim to achieve financial stability their potential impact on social sustainability deserves examination.
We assess the impact of macroprudential policies on social sustainability in its attempt to strengthen the financial sector after the Global Financial Crisis, evaluating if they resulted in new gender inequalities in the labour market.
The analysis uses panel regressions with data for more than 900,000 Spanish firms over the period 2010 to 2021, combined with a database on the loosening or tightening use of macroprudential measures in Spain during that period.
We find that macroprudential policy might have a role in the fight against inequality in the labour market.
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