A research paper by Victor Pontines, Senior Economist at the SEACEN Centre, on “The Real Effects of Loan-to-Value Limits: Empirical Evidence from Korea” has been accepted for publication in Empirical Economics. The article assesses the effects of macroprudential policy by comparing the effects of monetary policy and loan-to-value (LTV) ratio shocks for Korea, an inflation targeting economy and an active user of LTV limits. Its main findings are that:
An earlier version of this study was previously circulated as SEACEN Working Paper No. 1/2020.
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