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”CREDIT EASING”: effekter på kreditsituationen för företag under finanskrisen 2007-2010
Örebro University, Örebro University School of Business.
Örebro University, Örebro University School of Business.
2012 (Swedish)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

The financial crisis of 2007-2010 wiped out liquidity from credit markets, following the

interbank credit crunch as the investment bank Lehman Brothers collapsed. The situation

demanded a new monetary policy approach to boost liquidity in the markets vital for a

broader economic recovery. The Federal Reserve needed to expand its toolkit and introduce a

diversified set of tools to be able to provide that liquidity. The new method was branded

“credit easing”, as its main objective was to ease credit conditions in key credit markets. This

study aimed to define and apply a model of indicators for measurement of “credit easing’s”

effectiveness in easing credit conditions for businesses. Moreover, this study also aimed to

higher certainty in the distinction between “credit easing” and monetary policies used in the

past. We conclude that, especially thanks to The Federal Reserve’s direct credit allocation in

the markets for commercial paper, “credit easing” was successful in preventing a much worse

scenario that could have occurred. Regarding the differences between this new approach and

earlier used methods, we conclude that “credit easing” mechanically only differs in the tool of

central bank’s direct borrowing to prioritized borrowers. However, the main difference is the

idea of adjusting the entire set of tools in use in order to reach the objective of easing credit

conditions in specially chosen markets. This specification in The Federal Reserve’s approach

is the reason why “credit easing” has received the classification of an unconventional policy.

Place, publisher, year, edition, pages
2012. , p. 42
Keywords [en]
Credit, easing
Keywords [sv]
Effekter, kreditsituation, företag, finanskris
National Category
Business Administration
Identifiers
URN: urn:nbn:se:oru:diva-21185ISRN: ORU-HHS/FEK-AS-2012/0004--SEOAI: oai:DiVA.org:oru-21185DiVA, id: diva2:480547
Subject / course
Företagsekonomi
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2012-05-18 Created: 2012-01-19 Last updated: 2017-10-17Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf