Money view or credit ciew - Reasons for financial crises: How money view and credit view are seen in great depression and great recession in Finland, Sweden and the United States

dc.contributorAalto-yliopistofi
dc.contributorAalto Universityen
dc.contributor.authorJussila, Tuula
dc.contributor.departmentTaloustieteen laitosfi
dc.contributor.departmentDepartment of Economicsen
dc.contributor.schoolKauppakorkeakoulufi
dc.contributor.schoolSchool of Businessen
dc.date.accessioned2014-08-06T08:38:26Z
dc.date.available2014-08-06T08:38:26Z
dc.date.dateaccepted2014-06-18
dc.date.issued2014
dc.description.abstractThis Master's thesis evaluates two theories of banking and economic crises, the Money view and the Credit view, and reviews them from the Great Depression (1929-1933) and the Great Recession (2008-2009) point of view. The crises are studied by literature and using Finnish, Swedish and US data. The data is used to investigate how some phenomena of the theories and the crises, in question, appear in the data of the countries, in question. The studies in the original papers of the theories are not repeated. Based on the studies of this thesis it seems that the Money View, as Friedman and Schwartz (1963a) it describe, may have had a role in the United States in the days of the Great Depression, in 1930s, but may not have been exactly in the same role, in 2000s, during the Great Recession. The evidence of the Money View is not equally clear, related to the Finland and Sweden, during the Great Depression but money stocks have, at least, raised during the boom and declined after that in the time of the Great Recession in Finland and Sweden. The Credit view has had a role in many crises, as Reinhart and Rogoff (2009, 2011) report. However, based on this thesis, it cannot be exactly proved to be the main reason for the crises, in question, in Finland, Sweden and the United States. Yet, it is not the main purpose of this thesis to prove the theories as a cause of the crises but investigate how the phenomena of the theories appear in the data of the each country, in question.en
dc.ethesisid13689
dc.format.extent101
dc.format.mimetypeapplication/pdfen
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/13730
dc.identifier.urnURN:NBN:fi:aalto-201501221457
dc.language.isoenen
dc.locationP1 Ifi
dc.programme.majorEconomicsen
dc.programme.majorKansantaloustiedefi
dc.subject.heleconkansantaloustiede
dc.subject.heleconeconomics
dc.subject.heleconkansantalous
dc.subject.heleconnational economy
dc.subject.heleconpankit
dc.subject.heleconbanks
dc.subject.heleconrahatalous
dc.subject.heleconmonetary economics
dc.subject.heleconvaluutta
dc.subject.heleconcurrency
dc.subject.helecontalouskriisi
dc.subject.heleconeconomic crisis
dc.subject.heleconlama
dc.subject.helecondepression
dc.subject.helecontaantuma
dc.subject.heleconrecession
dc.subject.keywordbusiness cycles
dc.subject.keywordmoney view
dc.subject.keywordcredit view
dc.subject.keywordsuhdanteet
dc.titleMoney view or credit ciew - Reasons for financial crises: How money view and credit view are seen in great depression and great recession in Finland, Sweden and the United Statesen
dc.typeG2 Pro gradu, diplomityöfi
dc.type.dcmitypetexten
dc.type.ontasotMaster's thesisen
dc.type.ontasotPro gradu tutkielmafi
local.aalto.idthes13689
local.aalto.openaccessyes
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