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AS and A Level > Economics > Macroeconomics > Examine the likely economic effects of the credit crunch
Examine the likely economic effects of the credit crunch
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- Words:
- 982
- Submitted:
- Mon Aug 31 2009
- Mark submitted by Author:
(1 votes)
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Examine the likely economic effects of the credit crunch
... Examine the likely economic effects of the credit crunch Before one can truly examine the economic effects of the credit crunch it is important that we understand what we mean by the credit crunch. The credit crunch itself is a by product of what has become more commonly known as the debacle in the "sub prime loan market." The sub prime loan market is a market in which lenders have lent large sums of money to borrowers who may have had difficulty in servicing the debt. The main protagonist in this drama that is unfolding is the USA. US banks who wanted to get these debts of their balance sheet to allow for other more profitable loans repackaged these debts and sold them on the international debt market a process known as "securitisation." Many UK and other banks purchased these sub prime loans and are no paying the heavy price of
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User Reviews of this Essay
What our users think of this essay:
"Very good essay, especially for A-level. You do a competent job at explaining some of the relevant causes behind the credit crunch (not all of them, but it's a very complex topic, so I wouldn't expect that). A couple of additions could be made, however.
Firstly, Where is the graph? This piece would be greatly benefit from some AD/AS graphs that help show what you mean, especially when you're discussing flexible labour markets (which can be shown by a vertical LRAS curve).
Secondly, you could talk about the liquidity trap with regards to monetary policy - that is, monetary policy becomes increasingly ineffective as interest rates approach 0%. I would also like to see a paragraph that explicitly looks at the effect on Investment - a component of AD - because while the article hints at it, there's not really a decent explicit explanation, I feel. Otherwise, very solid work.
TSR User: chidona"
TSR
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