Profile
Czerny, Leonhard
leonhard [Punkt] czerny (at) hof [Punkt] uni-frankfurt [Punkt] de
Projects and Positions in the Cluster
- Doktoranden
Programming period 2012-2019
Research topic
Why Jeonse? - The Interplay of Financial Frictions and Housing in Korea
Brief description of research topic
Jeonse is a rental system distinct to Korea in which there are no periodic payments from tennants to landlords. Only the deposit transfered at the beginning of a rental
contract changes hands. At the end of the contract, its nominal value is redeemed.
We build a model to investigate why this rental system unique to Korea still plays an important role on the housing market.
We hope to gain insights into the interplay of institutions, financial frictions, e.g. an underdeveloped mortgage market and credit controls, and housing arrangements in growing and developed economies.
Subject areas
Economics
Main research interests
Macroeconomics, Law and Economics, Banking and Housing in Macro Models
