We are pleased to have you at the upcoming hybrid session of the Research Seminar Series at the Asia School of Business, featuring Professor Myoung-Jae Lee.

Seminar Title: Finding Effects of Sequential Housing-Price Control Policies Using Various Forms of Difference in Differences

🗓 Date: Wednesday, 30 July 2025

⏰ Time: 12:30 PM – 1:30 PM

📍Venue: CR-W2-04, Level 2, Asia School of Business

Zoom link (Hybrid):

https://asb-my.zoom.us/j/98423618859

Meeting ID: 984 2361 8859

About the Speaker:

Professor Myoung-Jae Lee obtained his PhD from University of Wisconsin-Madison in 1989. His research areas are econometrics and statistics. His recent research is centered around causal analysis, focusing on regression discontinuity and difference in differences. He published six single-authored books on these and related topics from Springer, Oxford University Press and other publishers, and about 100 papers in reputable journals. Currently, he is a professor emeritus and senior researcher at Korea University, as well as being a visiting professor at University of Nottingham Ningbo China.

Abstract:

Various forms of housing-price/rent control policies are implemented in many countries, and finding their impacts is an important issue. Over 2019-2023, the South Korean government announced a policy to put a ceiling on housing prices in some regions of Seoul, and then subsequently implemented, strengthened, weakened, and finally abolished the policy. This is a rather complicated scenario for a policy, and the goal of this paper is to assess the effects of the policy and its changes with difference in differences (DD). We establish a detailed DD-analysis protocol, employing diverse forms of DD. Applying the protocol where a systematic difference in the untreated outcome trajectories of the treated and control groups is allowed, we assess the policy impacts. We find that, despite the active involvement of the government in the housing market, the overall effect is about a 5-6% decline in housing prices in Seoul.

We look forward to your participation in this insightful research seminar.