Household borrowing in China has increased considerably in recent years, raising concerns about the household sector … the three available waves (2011, 2013 and 2015) of China's Household Finance Survey. Overall loan-to-value (LTV) ratios … quintiles, despite the huge increase in house-hold indebtedness, are not particularly vulnerable to declining incomes or falling …

This paper studies the impact of household indebtedness on the consumption channel of monetary policy using the Chinese … household-level survey data. We employ a panel smooth transition regression model to investigate the non-linear role of … there is a much larger counteraction of consumption in response to monetary policy shocks when household indebtedness …

This paper studies the impact of household indebtedness on the transmission of monetary policy to consumption using the … Chinese household-level survey data. We employ a panel smooth transition regression model to investigate the non-linear role … non-linear as there is a much larger counteraction of consumption in response to monetary policy shocks when household …