Una revisión de la enfermedad holandesa a la luz de la teoría austriaca del ciclo económico
[A review of the Dutch disease in the light of the Austrian theory of business cycle]
AbstractThe purpose of this paper is to review the phenomenon has been called Dutch disease in the light of Austrian business cycle theory. To this end we will see the history of Austrian business cycle theory from its roots in Wicksell ( 2000) to the extension of the theory in open economies with fiat currencies in Cachanosky (2012). We will review the concept of Dutch disease and the positions of its nature negative, neutral or positive in terms of growth, along with the problem of real exchange rate and its possible relationship with the long term growth, and taking into account the relevant differences between the economies that emit fiat currencies used as reserves and economies that import those currencies as reserves to issue their money, finally we postulate that the Dutch disease, as the economic malaise, it´s simply a variant specific and peripheral, of the distortions in the inter-temporary structure of capital by bad investments, extensively studied in the Austrian business cycle theory.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 39986.
Date of creation: 09 Jul 2012
Date of revision:
Enfermedad holandesa; macroeconomía del capital; teoría austriaca del ciclo; dinero fiduciario;
Find related papers by JEL classification:
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- F31 - International Economics - - International Finance - - - Foreign Exchange
- B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-07-23 (All new papers)
- NEP-HIS-2012-07-23 (Business, Economic & Financial History)
- NEP-HPE-2012-07-23 (History & Philosophy of Economics)
- NEP-MAC-2012-07-23 (Macroeconomics)
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