As indebted households tend to have a relatively higher propensity to consume out of wealth compared to creditors, their effort to deleverage can translate into a decline in aggregate demand (Tobin 1980).
Loi M Bakani: Bank of Papua New Guinea's achievements and milestones Speech by Mr Loi M Bakani, Governor of the Bank of Papua New Guinea, at PNG's 44th Anniversary Ball, Port Moresby, 4 November 2017. * * * Good evening All. From here the view is wonderful!