Song, Joonhyuk; Ryu, Doojin - In: Economics / Journal articles : the open-access, … 15 (2021) 1, pp. 3-27
As Korea's household debt has increased rapidly since the mid-2000s, concerns that its economy's hard-wired leveraging … long-run trend. Housing preferences and monetary shocks can both trigger deleveraging, as most household debt is profoundly … macroeconomic effects of deleveraging. Because a lower loan-to-value (LTV) ceiling limits the size of household debt, the …
