asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis …The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of … perspective by confronting exchange rate based adjustment with crisis adjustment via price and wage cuts. Econometric estimations …

disturbing factor of a generally stable real economy (Wicksell, Hayek, Schumpeter, Fisher, and the early Keynes). Thereafter …

Epistemic arguments play a significant role in Hayek's defense of market liberalism. His claim that market competition … assessment Hayek neglects the role of new technological knowledge. He ignores that the discovery procedure induces not only price … Hayek's version of market liberalism. …

The paper identifies based on the monetary overinvestment theories by Wicksell (1898), Mises (1912) and Hayek (1929 …

Hayek's approach to cultural and institutional evolution has been frequently criticized because it is explicitly based … recent works on biological and cultural evolution. The paper's main contention is that Hayek employed group selection as a … equilibrium behavior (i.e. altruism). The paper shows that Hayek's ideas foreshadowed some of the most promising developments in …

Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a …

It is widely believed that Friedrich von Hayek's first encounter with Gunnar Myrdal involved the latter's last …-minute contribution, as a replacement for Erik Lindahl, to a Sammelband edited by the former in 1933, and that Hayek was lukewarm towards … Myrdal and his ideas from the very beginning. Correspondence between the two shows that, in fact Myrdal was among Hayek …

Friedrich Hayek was a fervent advocate of the methodological specificity of the social sciences. However, given his … position that would have accepted the unity of the scientific method. A closer look at Hayek's philosophy and Popper's own …