borrowers and supply less credit to unproductive firms when collateral values rise. My results provide direct evidence that …

boom in real estate purchases by buyers from China, which amounted to $200 billion of purchases made between 2010 and 2019 …

rates and house prices. Some Chinese banks, especially the Bank of China, have been exposed to the US mortgage … replicated in China. This paper shows that there are some significant differences between China and the West, especially the US … and the UK. Compared with the US and other western industrialized economies, the booming house market in China has been …