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Redicovering Mises-Hayek monetary and business cycle theory in light of the current crisis : credit expansion as a source of economic boom and bust

Mrowiec, Marcin - In: E-Finanse : finansowy kwartalnik internetowy 9 (2013) 2, pp. 64-74

The article starts with a brief description of Mises’ monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is...

Persistent link: https://www.econbiz.de/10010226596

Understanding Financial Instability : Minsky Versus the Austrians

Van Den Hauwe, Ludwig - 2017

Although Minsky's interpretation of Keynes's macroeconomics and essential message clashes with authoritative …

Persistent link: https://www.econbiz.de/10012972360

How strongly are business cycles and financial cycles linked in the G7 countries?

Antonakakis, Nikolaos; Breitenlechner, Max; Scharler, Johann - 2014

In this study we examine the dynamic interactions between credit growth and output growth using the spillover index approach of Diebold and Yilmaz (2012). Based on quarterly data on credit growth and GDP growth over the period 1957Q1-2012Q4 for the G7 countries we find that: i) spillovers...

Persistent link: https://www.econbiz.de/10010253456

Central banking and crisis management from the perspective of Austrian business cycle theory

Schnabl, Gunther - 2016

The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek … zero and a gradual expansion of central bank balance sheets. From a Hayek-Mises-Wicksell perspective asymmetric central …

Persistent link: https://www.econbiz.de/10011561161

The global move into the zero interest rate and high debt trap

Schnabl, Gunther - 2013

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

Persistent link: https://www.econbiz.de/10009769015

Keynes's theories of the business cycle: evolution and contemporary relevance

Bortz, Pablo G. - 2021

This paper traces the evolution of John Maynard Keynes's theory of the business cycle from his early writings in 1913 … major changes in the evolution of Keynes's business cycle theories: a) the saving- investment framework to understand … conclusions are drawn about the present relevance of the policy mix Keynes promoted for ensuring macroeconomic stability. …

Persistent link: https://www.econbiz.de/10012487521

Financial and Business Cycles in Brazil

Krznar, Ivo - 2017

This paper explores the nexus between the financial cycle and business cycle in Brazil. Cycles are estimated using a variety of commonly-used statistical methods and with a small, semistructural model of the Brazilian economy. An advantage of using the model-based approach is that financial and...

Persistent link: https://www.econbiz.de/10012962153