Hidden Bibliographic Details
| Other authors / contributors: | Kang, Heedon, author.
International Monetary Fund. Research Department, issuing body.
International Monetary Fund. Monetary and Capital Markets Department, issuing body.
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| ISBN: | 1283565374
9781283565370
9781463927837
1463927835
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| Notes: | At head of title: Research Department and Monetary and Capital Markets Department.
Title from PDF title page (IMF Web site, viewed December 27, 2011).
"December 2011."
Includes bibliographical references (page 34).
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| Summary: | "With another real estate boom-bust bringing woes to the world economy, a quest for a better policy toolkit to deal with these boom-busts has begun. Macroprudential measures could be in such a toolkit. Yet, we know very little about their impact. This paper takes a step to fill this gap by analyzing the Korean experience with these measures. We find that loan-to-value and debt-to-income limits are associated with a decline in house price appreciation and transaction activity. Furthermore, the limits alter expectations, which play a key role in bubble dynamics"--Page [1].
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