Financial Foundations of Austrian Business Cycle Theory
Authors:
- Nicolás CachanoskyNCNicolás Cachanosky
- Peter LewinPLPeter Lewin
- 13 May 2016
- book chapter
- Published by Emerald Publishing
- p. 15-44
Abstract
In this paper, we study financial foundations of Austrian business cycle theory (ABCT). By doing this, we (1) clarify ambiguous and controversial concepts like roundaboutness and average period of production, (2) we show that the ABCT has strong financial foundations (consistent with its microeconomic foundations), and (3) we offer examples of how to use the flexibility of this approach to apply ABCT to different contexts and scenarios.Keywords
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