The most important pages on Michael Pettis, on sector balances.
Be aware that this is partially related to Koo’s yin/yang periods distinction.
Sector balances concern
- the differentiation into household income, company income (aka profits) and public income as opposed to current account, the external balance
- the differentiation into household wealth, cash/wealth on company balance sheets and public wealth. Moreover the desire to increase or decrease debt.
Sector Balances, theories and articles that base on them:
- Selected List of Sector Balances
- The trade deficit and the collapse of manufacturing, the causes of the U.S. secular stagnation?
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