Disclaimer
The views expressed herein are those of the authors and do not necessarily reflect the official views of Bank of Korea. When reporting or citing this paper or content in this website, the authors’ name should always be explicitly stated.
To ensure stability in the decomposition results as new data are incorporated, this dashboard employs two estimation approaches. Results through November 2015 are estimated using labels derived from the full sample, while results from December 2015 onward are estimated using a 10-year rolling window (i.e., house price growth in December 2015 is labeled using residuals from a VAR estimated over January 2006–December 2015). Therefore, although the macroeconomic implications remain the same, the decomposition results may not perfectly match those in Choi and Lee (2026)