The Austrian Theory of the Business Cycle in the Light of Modern Macroeconomics

  title={The Austrian Theory of the Business Cycle in the Light of Modern Macroeconomics},
  author={Michael Montgomery Roger Koppl},
  • Michael Montgomery Roger Koppl
  • Published 1996
T he Austrian theory of the business cycle has many critics. Some believe that this part of the Austrian contribution is so misdirected as to constitute an "embarrassing excrescence" (Yeager [1986, p. 378]); others simply doubt that there can be a single theory that provides a general account of cyclical activity (Leijonhufvud [1984, 1986]; see also Sirkin [1972] and Lachmann [1978]); and still others deny the existence of some of the most salient features of business cycles. Defending—or even… CONTINUE READING
9 Citations
20 References
Similar Papers


Publications referenced by this paper.
Showing 1-10 of 20 references

Kansas City, Kans.

  • of Friedrich A. Hayek
  • Sheed Andrews and McMeel,
  • 1977
Highly Influential
5 Excerpts

Capital and Interest, 3 vols

  • Bdhm-Bawerk, Eugen
  • 1988

" Comment : Politics , Monetary Control , and Economic Performance , " in

  • Wagner, E Richard
  • " Why the Austrians Are Wrong About Depressions…
  • 1987

Business Cycles and National Income

  • Hansen, H Alvin
  • 1985

A Theoretical Framework for Monetary Analysis,

  • Friedman, Milton
  • American Economic Review,
  • 1982

Phillips Curves and Hayekian Triangles: Two

  • Bellante, Don, Roger W. Garrison
  • 1981

The Kondratieff Wave

  • June, 1978. Schuman, B James, Rosenau, David
  • 1978

Austrian Economics as the Middle Ground: Comment on Loasby,

  • Garrison, W Roger
  • Chicago: Aldine,
  • 1976

Principles of Economics (originally published in German

  • Menger, Carl
  • Hillsdale College Press,
  • 1976

Rational Expectations and the Role of Monetary Policy

  • Barro, J Robert
  • 1976

Similar Papers

Loading similar papers…