In an asset and debt deflation, the process of reducing debt by saving and curtailing spending takes a long time, say authors Philip Arestis and Elias Karakitsos. Current imbalances and poor prospects for spending in the private sector affect the balance sheets of the commercial banks. The...

Purpose: This paper aims to examine the evolution of house prices in China and especially the effects of different financing channels on China’s house prices. Design/methodology/approach: The author use the own theoretical framework and proceed to test the testable hypotheses by using the...