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The real effects of loan-to-value limits: empirical evidence from Korea

Pontines, Victor


This study adds to a recent and growing literature that assesses the effects of macroprudential policy. We compare the effects of monetary policy and loan-to-value ratio shocks for Korea, an inflation-targeting economy and an active user of loan-to-value limits. We identify shocks using sign restricted structural VARs and rely on a recent approach within this method to conduct structural inference. This study finds that both monetary policy and loan-to-value ratio shocks have effects during the...[Show more]

CollectionsANU Research Publications
Date published: 2020-07-06
Type: Journal article
Source: Empirical Economics
DOI: 10.1007/s00181-020-01908-1


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