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Salter and Luther (2016) argue that the Austrian theory of the business cycle (ABCT) can be interpreted as one where …
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Since Hayek's pioneering work in the 1930's, the Austrian business cycle theory has been presented as a disequilibrium … theory populated by less-than-perfectly rational agents. In contrast, we maintain that (1) the Austrian business cycle theory … framework. Hence, we offer a new interpretation of the existing theory. In doing so, we also address concerns raised with …
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