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Should fiscal consolidation and scaling down public debt be given highest priority in Euro countries in crisis? Or do they need a strong fiscal stimulus from expansive government spending for overcoming their deep recessions? Here, these questions are analyzed against the background of Keynesian...
Persistent link: https://www.econbiz.de/10011128114
Following standard Austrian School theory, in this paper I identify merger waves as parts of Austrian type business cycles. As indicated by Mises, Rothbard and Hayek, when loan rates are reduced below their natural level through bank credit expansion this falsifies the monetary calculation of...
Persistent link: https://www.econbiz.de/10010762848
Approaching the theory of economic cycle is not an issue that comes in hand! We are permitted to make such a statement based on the idea that explanations concerning the business cycle theory are strictly related to how each school of thought was able to understand the system that makes market,...
Persistent link: https://www.econbiz.de/10009368464
Since a few decades several sub-disciplines within economics have witnessed a reorientation towards institutional analysis. This development has in particular also affected the fields of macroeconomics and monetary theory where it has led to several proposals for far-reaching financial and...
Persistent link: https://www.econbiz.de/10005790043
In diesem Beitrag werden die Grundzüge der Überinvestitionstheorien von Hyman Minsky auf der einen und die von v. Hayek/Garrison auf der anderen Seite zunächst in den 'Sprachen' der Originalbeiträge herausgearbeitet. Anschließend wird ihr möglicher Erklärungsbeitrag für die aktuelle...
Persistent link: https://www.econbiz.de/10008462130
The conventional version of Austrian business cycle theory focuses on a temporary imbalance between natural and monetary rates of interest. When, because of the role of monetary authorities in defining the monetary rate, the two values are in a situation of imbalance, the resulting expansion...
Persistent link: https://www.econbiz.de/10010795046
In this study I compare the credit condition with the economic growth in Italy from January 2007 onward. Starting from …
Persistent link: https://www.econbiz.de/10009653232
In this study I compare the credit condition with the economic growth in Italy from January 2007 onward. Starting from …
Persistent link: https://www.econbiz.de/10009401331
The purpose of this paper is to review the phenomenon has been called Dutch disease in the light of Austrian business cycle theory. To this end we will see the history of Austrian business cycle theory from its roots in Wicksell ([1898] 2000) to the extension of the theory in open economies with...
Persistent link: https://www.econbiz.de/10011259829
In our attempt to understand the causes and consequences of the most critical international financial crisis of the 21st century which, besides crushing world economies, questioned the bases of the mainstream economic theories, we focused our attention on the solutions provided by the Austrian...
Persistent link: https://www.econbiz.de/10010679440