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The Nature of Boehm-Bawerk's Capital Market

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  • Jean Magnan De Bornier

    ()
    (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - Université de la Méditerranée - Aix-Marseille II - Université Paul Cézanne - Aix-Marseille III - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - CNRS : UMR6579)

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    Abstract

    The capital market in Böhm-Bawerk's Positive Theory of Capital appears at several places. The last chapter of the book provides the complete exposition of Böhm's view of this market where present goods are exchanged for future goods. Studying this exposition leads to understand that many variables, prices as well as quantities, are determined together in this ``enormous market''. The capital market is a macroeconomic system, the nature of which we try to assess.

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    Bibliographic Info

    Paper provided by HAL in its series Working Papers with number halshs-00278521.

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    Date of creation: 13 May 2008
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    Handle: RePEc:hal:wpaper:halshs-00278521

    Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00278521/en/
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    Keywords: Böhm-Bawerk; capital; market; macroeconomics;

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