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The effectiveness of counter-cyclical loan-to-value regulations: generic versus sector-specific rules

Author

Listed:
  • Guangling Dave Liu
  • Thabang Molisey

Abstract

This paper considers the implications of the counter-cyclical loan-to-value (CcLTV) regulation in a setting where different types of borrowers from distinct sectors of the credit market co-exist. To identify the optimal policy design, we consider two macro-prudential policy regimes, nanely generic and sector-specfi c, and compare their effectiveness in enhancing fi nancial and macroeconomic stability. […]

Suggested Citation

  • Guangling Dave Liu & Thabang Molisey, 2019. "The effectiveness of counter-cyclical loan-to-value regulations: generic versus sector-specific rules," Working Papers 785, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:785
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    More about this item

    Keywords

    Banking Regulation; Corporate Governance; DSGE; Financial Stability; Other Macroeconomic Variables; Social welfare;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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