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Advances in Austrian Economics
Studies in Austrian Macroeconomics
Author and Other Information
Emerald Group Publishing Limited
Volume
20
DOI:
https://doi.org/10.1108/S1529-2134201620
ISBN electronic:
978-1-78635-273-6
ISBN print:
978-1-78635-274-3
Series ISSN:
1529-2134
Publication date:
2016
Book Chapter

Financial Foundations of Austrian Business Cycle Theory

By
Nicolás Cachanosky;
Nicolás Cachanosky
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Peter Lewin
Peter Lewin
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Author and Other Information
Nicolás Cachanosky
Peter Lewin
Copyright © 2016 Emerald Group Publishing Limited
2016
Emerald Group Publishing Limited
Doi:
https://doi.org/10.1108/S1529-213420160000020002
  • Published:
    2016
Copyright © 2016 Emerald Group Publishing Limited
2016
Emerald Group Publishing Limited

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.

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