The Austrian Theory of Business Cycles : Old Lessons for Modern Economic Policy? /
This paper reviews the "Austrian" theory of the business cycle first proposed by Friedrich Hayek in the 1920s. His theory claimed that credit creation by monetary authorities would push investment beyond society's long-term willingness to save, creating a mismatch between supply and d...
| Autor principal: | |
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| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2002.
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| Colección: | IMF Working Papers; Working Paper ;
No. 2002/002 |
| Acceso en línea: | Full text available on IMF |