{"id":7234,"date":"2023-01-06T12:09:42","date_gmt":"2023-01-06T11:09:42","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-asso-professor-artashes-karapetyan-essec-business-school\/"},"modified":"2024-02-22T09:55:15","modified_gmt":"2024-02-22T08:55:15","slug":"df-lunch-seminar-asso-professor-artashes-karapetyan-essec-business-school","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-asso-professor-artashes-karapetyan-essec-business-school\/","title":{"rendered":"DF Lunch Seminar Asso. Professor Artashes Karapetyan, ESSEC Business School"},"content":{"rendered":"\n<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\">\n<p><strong>Abstract:<\/strong><\/p>\n\n\n\n<p><i>We study the impact of loan-to-value (LTV) regulation on unregulated debt that is used for home acquisition. In our setting, part of the dwelling price is in form of pre-existing debt exempt from the regulation. We exploit cross-sectional variation across buildings in the non-regulated debt to estimate a set of indirect effects of LTV regulation. Our main result is that households start paying more for dwellings financed with more unregulated debt. Our baseline estimates reveal an implicit interest rate on long-term unregulated debt of at least 8.6 percent or three times the prevailing mortgage rate. In the long-term, developers respond by increasing the supply of debt in new housing by about 50 percent. Taken together, our results document several new unintended indirect consequences of LTV regulation. We corroborate our findings by aggregating evidence from 13 countries.<\/i><\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":47,"featured_media":7235,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"event_start_date":"2022-09-29 12:15:00","event_end_date":"2022-09-29 13:30:00","event_speaker_name":"Asso. Professor Artashes Karapetyan","event_speaker_link":"","event_is_online":false,"event_location":"Building F, Room F2.13, 2nd Floor","event_street":"University of Luxembourg, 6 Rue Richard Coudenhove-Kalergi, ","event_location_link":"","event_zip_code":"1359","event_city":" Luxembourg","event_country":"LU"},"events-topic":[301],"events-type":[],"organisation":[116],"authorship":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DF Lunch Seminar Asso. Professor Artashes Karapetyan, ESSEC Business School - FDEF events I Uni.lu<\/title>\n<meta name=\"description\" content=\"Abstract: We study the impact of loan-to-value (LTV) regulation on unregulated debt that is used for home acquisition. In our setting, part of the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-asso-professor-artashes-karapetyan-essec-business-school\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DF Lunch Seminar Asso. Professor Artashes Karapetyan, ESSEC Business School\" \/>\n<meta property=\"og:description\" content=\"Abstract: We study the impact of loan-to-value (LTV) regulation on unregulated debt that is used for home acquisition. 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