3 Citations
Austrian business cycle theory: Empirical evidence
- Economics
- 2009
The Austrian approach to business cycles has been seldom examined in econometric terms. This paper first reviews the essentials of that approach and the recent application of the Austrian business…
Austrian persistence? Capital-based business cycle theory and the dynamics of investment spending
- Economics
- 2006
Survey data are used to investigate the very long spending lags estimated in neoclassical studies of investment expenditures. Neoclassical investment theory has trouble explaining the length of these…
Modelling the impact of changes in the interest rates on the economy: An Austrian perspective
- Economics
- 2004
Even though econometric models and yield curve analysis are useful in assessing the impact of interest rate changes on the economic structure, their power to predict the magnitude and direction of…
References
SHOWING 1-10 OF 25 REFERENCES
The Importance of Sectoral and Aggregate Shocks in Business Cycles
- Economics
- 1991
The theoretical literature on business cycles proposes numerous causes for their occurrence. This paper attempts to measure the relative importance of aggregate, whether real or nominal, and sectoral…
More Evidence on the Money-Output Relationship
- Economics
- 1997
Recent studies have found that money loses its explanatory power over output if the 1980s are included in the sample. Interest rates, not money, appear to predict output. Using annual data for…
Time and Money: The Macroeconomics of Capital Structure
- Economics
- 2000
Part I 1: The Macroeconomics of Capital Structure 2: An Agenda for Macroeconomics Part II 3: Capital-based Macroeconomics 4: Sustainable and Unsustainable Growth 5: Fiscal and Regulatory Issues 6:…
The Cyclical Behavior of Individual Production Series, 1889–1984
- Economics
- 1991
This paper uses simple summary statistics to analyze the volatility, persistence, and comovement of 38 annual individual production series for the period 1889–1984. It seeks to identify the size,…
Structural Models of the Liquidity Effect
- EconomicsReview of Economics and Statistics
- 1998
In this paper we examine a number of recent studies that claim to have obtained a well-defined liquidity effect using structural VAR models based on broad measures of money. These studies can be…