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external shock caused by the global crisis and the subsequent internal reaction in the form of intensified stimulating state …
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expansion on the business cycle. Further on it is described how Mises’ insights constituted the kernel of Austrian Business … macroeconomic researches, Mr. Claudio Borio, on the elasticity of credit as the source of the current crisis, and on the importance … of the financial cycle in analysing the current economic crisis. The author of this text demonstrates that Austrian …
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