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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
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human capital as an accumulable factor. In a study on Austria and Germany we augment the Solow model to allow for the … of human capital of Austria and Germany by weighting workers of different schooling levels with their respective wage … quantifies how wages change with years of schooling. We find that the time series evidence on Austria and Germany is not …
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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 …
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This paper studies a scenario - one of the six problems with Austrian Business Cycle theory raised by Hummel (1979) - that the ABCT literature has paid little attention. Will a constant rate of credit expansion necessarily lead to a boom-bust cycle? We conclude that this scenario has two...
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