Essec\Faculty\Model\Contribution {#2205
  #_index: "academ_contributions"
  #_id: "14639"
  #_source: array:26 [
    "id" => "14639"
    "slug" => "inefficient-regulation-mortgages-versus-total-credit"
    "yearMonth" => "2024-01"
    "year" => "2024"
    "title" => "Inefficient Regulation: Mortgages versus Total Credit"
    "description" => "KARAPETYAN, A., KVAERNER, J.S. et ROHRER, M. (2024). Inefficient Regulation: Mortgages versus Total Credit. <i>Review of Finance (ex European Finance Review)</i>, 28(1), pp. 311-351."
    "authors" => array:3 [
      0 => array:3 [
        "name" => "KARAPETYAN Artashes"
        "bid" => "B00753681"
        "slug" => "karapetyan-artashes"
      ]
      1 => array:1 [
        "name" => "Kvaerner Jens Soerlie"
      ]
      2 => array:1 [
        "name" => "Rohrer Maximilian"
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:2 [
      0 => "Loan-to-value"
      1 => "Macro-prudentialregulation – Mortgages – Regulatory arbitrage"
    ]
    "updatedAt" => "2024-01-19 10:30:43"
    "publicationUrl" => "https://doi.org/10.1093/rof/rfad023"
    "publicationInfo" => array:3 [
      "pages" => "311-351"
      "volume" => "28"
      "number" => "1"
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "We estimate the willingness-to-pay to bypass a loan-to-value (LTV) cap. Our identification relies on exogenous variation in debt exempt from the LTV regulation that can only be used as a substitute for a personal mortgage. Our baseline estimate reveals that homebuyers pay 7.3 Swedish Kroner (SEK) to avoid 1 SEK of equity down payment. The supply of debt not part of the LTV calculation increased by approximately 50% within 2 years after the LTV regulation. Financially weaker households drive the results."
      "en" => "We estimate the willingness-to-pay to bypass a loan-to-value (LTV) cap. Our identification relies on exogenous variation in debt exempt from the LTV regulation that can only be used as a substitute for a personal mortgage. Our baseline estimate reveals that homebuyers pay 7.3 Swedish Kroner (SEK) to avoid 1 SEK of equity down payment. The supply of debt not part of the LTV calculation increased by approximately 50% within 2 years after the LTV regulation. Financially weaker households drive the results."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-05-14T22:21:49.000Z"
    "docTitle" => "Inefficient Regulation: Mortgages versus Total Credit"
    "docSurtitle" => "Articles"
    "authorNames" => "<a href="/cv/karapetyan-artashes">KARAPETYAN Artashes</a>, Kvaerner Jens Soerlie, Rohrer Maximilian"
    "docDescription" => "<span class="document-property-authors">KARAPETYAN Artashes, Kvaerner Jens Soerlie, Rohrer Maximilian</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2024</span>"
    "keywordList" => "<a href="#">Loan-to-value</a>, <a href="#">Macro-prudentialregulation – Mortgages – Regulatory arbitrage</a>"
    "docPreview" => "<b>Inefficient Regulation: Mortgages versus Total Credit</b><br><span>2024-01 | Articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="https://doi.org/10.1093/rof/rfad023" target="_blank">Inefficient Regulation: Mortgages versus Total Credit</a>"
  ]
  +lang: "fr"
  +"_type": "_doc"
  +"_score": 8.922568
  +"parent": null
}