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Reswitching, the Average Period of Production and the Austrian Business Cycle : A Comment on Fratini

Lewin, Peter - 2019

In a recent contribution to this journal Severino Fratini (2019) offers a critique of our work on Austrian Capital Theory on the grounds that our conception of capital and “roundaboutness”. In this comment we explain why we think this criticism is wrong

Persistent link: https://www.econbiz.de/10012870780

Human capital and macroeconomic growth : Austria and Germany 1960 - 1997 ; an update

Koman, Reinhard; Marin, Dalia - 1999

as an accumulable factor. In a study on Austria and Germany we augment the Solow model to allow for the accumulation of … series evidence on Austria and Germany is not consistent with a human-capital-augmented Solow model. Factor accumulation … appears to be less (and not more) able to account for the cross-country growth performance of Austria and Germany when human …

Persistent link: https://www.econbiz.de/10009712336

The Austrian Theory of Capital : An Attempt at Clarification

Potuzak, Pavel - 2016

Traces of the Austrian capital theory may be detected in the modern growth theory. Yet, it was not generally accepted as it contains many confusions and unsettled points. This paper tries to clarify some of the misunderstandings that are present in this theory. It clarifies the notion of...

Persistent link: https://www.econbiz.de/10012979107

The Elusive Empirics of Austrian Capital Theory

Cachanosky, Nicolas - 2021

This paper uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different alternative solutions to empirical challenges. The paper also discusses the Austrian literature's epistemological approach to...

Persistent link: https://www.econbiz.de/10013239730

Capital Valuation, What is it and Why Does it Matter? Insights from Austrian Capital Theory

Lewin, Peter - 2016

The ability to rationally evaluate time-consuming productive activities is what distinguishes capitalism from alternative social systems. Capital-accounting provides the framework for such evaluations that allow decision-makers to calculate the relative values to them of alternative productive...

Persistent link: https://www.econbiz.de/10012996469

Unmixing the Metaphors of Austrian Capital Theory

Harwick, Cameron - 2022

A complement of metaphors inherited from the classical era has held back progress in Austrian capital theory (ACT). In particular, the attachment to circulating capital as the paradigmatic capital good, largely motivated by the business cycle theory, has locked ACT into a nonoperational...

Persistent link: https://www.econbiz.de/10014102377

From Austrian theory of capital to dissent : Nicholas Kaldor, Friedrich A. Hayek and the way to disequilibrium

Costa, Keanu Telles da - In: Economia : revista da ANPEC 24 (2023) 1, pp. 86-114

Purpose - In the early 1930s, Nicholas Kaldor could be classified as an Austrian economist. The author reconstructs the intertwined paths of Kaldor and Friedrich A. Hayek to disequilibrium economics through the theoretical deficiencies exposed by the Austrian theory of capital and its...

Persistent link: https://www.econbiz.de/10014418096

Capital valuation, what is it and why does it matter? : insights from Austrian capital theory

Lewin, Peter - In: Journal of business valuation and economic loss analysis 12 (2017) 1, pp. 1-19

Persistent link: https://www.econbiz.de/10011758869

Review essay : the young Hayek

Maes, Ivo - 2023

Friedrich Hayek has been one of the dominating intellectual figures of the 20th century. Hayek, together with Gunnar Myrdal, received the 1974 Nobel Memorial Prize in economics, for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the...

Persistent link: https://www.econbiz.de/10014343108

A discussion of the main tenets of Austrian business cycle theory

Metrah, Samy - In: European financial and accounting journal : EFAJ 9 (2014) 3, pp. 95-114

The aim of this paper is to critically assess Austrian Business Cycle (ABC) theory. Its foundation was laid in Theory of Money and Credit (1912) by Ludwig von Mises, which F. A. Hayek elaborated in more detail later on in his Prices and Production (1935). We argue that assumed coordination...

Persistent link: https://www.econbiz.de/10011460571

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