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Austrian Macroeconomics in Search of Its Uniqueness

Author

Listed:
  • William J. Luther

    (Kenyon College)

  • J. P. McElyea

    (comScore, Inc.)

Abstract

No abstract is available for this item.

Suggested Citation

  • William J. Luther & J. P. McElyea, 2018. "Austrian Macroeconomics in Search of Its Uniqueness," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 33(Summer 20), pages 1-20.
  • Handle: RePEc:jpe:journl:1475
    as

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    References listed on IDEAS

    as
    1. Ricardo Reis, 2018. "Is something really wrong with macroeconomics?," Oxford Review of Economic Policy, Oxford University Press, vol. 34(1-2), pages 132-155.
    2. Peter Lewin & Nicolas Cachanosky, 2016. "A financial framework for understanding macroeconomic cycles: The structure of production is relevant," Journal of Financial Economic Policy, Emerald Group Publishing, vol. 8(2), pages 268-280, May.
    3. Philipp Bagus & David Howden, 2012. "Monetary equilibrium and price stickiness: A rejoinder," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(3), pages 271-277, September.
    4. Carilli, Anthony M & Dempster, Gregory M, 2001. "Expectations in Austrian Business Cycle Theory: An Application of the Prisoner's Dilemma," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 14(4), pages 319-330, December.
    5. Andrew Young, 2012. "The time structure of production in the US, 2002–2009," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(2), pages 77-92, June.
    6. Nicolas Cachanosky, 2015. "Expectation in Austrian business cycle theory: Market share matters," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(2), pages 151-165, June.
    7. N. Gregory Mankiw & Ricardo Reis, 2002. "Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1295-1328.
    8. Sargent, Thomas J., 1991. "Equilibrium with signal extraction from endogenous variables," Journal of Economic Dynamics and Control, Elsevier, vol. 15(2), pages 245-273, April.
    9. Roger W. Garrison, 2009. "Interest-Rate Targeting during the Great Moderation: A Reappraisal," Cato Journal, Cato Journal, Cato Institute, vol. 29(1), pages 187-200, Winter.
    10. repec:eme:aaeczz:s1529-213420160000020005 is not listed on IDEAS
    11. Blanchard, Olivier & Wolfers, Justin, 2000. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," Economic Journal, Royal Economic Society, vol. 110(462), pages 1-33, March.
    12. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
    13. repec:bla:coecpo:v:35:y:2017:i:3:p:505-517 is not listed on IDEAS
    14. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
    15. Olivier Blanchard, 2006. "European unemployment: the evolution of facts and ideas," Economic Policy, CEPR;CES;MSH, vol. 21(45), pages 5-59, January.
    16. Garrison, Roger W., 1984. "Time and money: The universals of macroeconomic theorizing," Journal of Macroeconomics, Elsevier, vol. 6(2), pages 197-213.
    17. repec:kap:revaec:v:30:y:2017:i:2:d:10.1007_s11138-016-0340-5 is not listed on IDEAS
    18. Don Bellante, 1994. "Labor economics," Chapters,in: The Elgar Companion to Austrian Economics, chapter 37 Edward Elgar Publishing.
    19. Alexander William Salter, 2017. "Playing at markets: A New Austrian perspective on macroeconomic policy," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 30(1), pages 39-49, March.
    20. Braun, Eduard & Lewin, Peter & Cachanosky, Nicolás, 2016. "Ludwig von Mises's approach to capital as a bridge between Austrian and institutional economics," Journal of Institutional Economics, Cambridge University Press, vol. 12(04), pages 847-866, December.
    21. Simon Bilo & Richard Wagner, 2015. "Neutral money: Historical fact or analytical artifact?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(2), pages 139-150, June.
    22. Price, Simon, 1992. "Human Capital, Hysteresis and Unemployment among Workers with Finite Lives," Scottish Journal of Political Economy, Scottish Economic Society, vol. 39(2), pages 201-212, May.
    23. N. Cachanosky & P. Lewin, 2014. "Roundaboutness is Not a Mysterious Concept: A Financial Application to Capital Theory," Review of Political Economy, Taylor & Francis Journals, vol. 26(4), pages 648-665, October.
    24. Kim B. Clark & Lawrence H. Summers, 1982. "Labour Force Participation: Timing and Persistence," Review of Economic Studies, Oxford University Press, vol. 49(5), pages 825-844.
    25. Lawrence H. White, 2010. "The Rule of Law or the Rule of Central Bankers?," Cato Journal, Cato Journal, Cato Institute, vol. 30(3), pages 451-463, Fall.
    26. Laurence M. Ball, 2009. "Hysteresis in Unemployment: Old and New Evidence," NBER Working Papers 14818, National Bureau of Economic Research, Inc.
    27. Di Tella, Rafael & MacCulloch, Robert, 2006. "Europe vs America: Institutional hysteresis in a simple normative model," Journal of Public Economics, Elsevier, vol. 90(12), pages 2161-2186, December.
    28. Laurence Ball, 1999. "Aggregate demand and Long-Run Unemployment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 30(2), pages 189-252.
    29. Lawrence H. White, 2009. "Federal Reserve Policy and the Housing Bubble," Cato Journal, Cato Journal, Cato Institute, vol. 29(1), pages 115-125, Winter.
    30. repec:cup:buspol:v:19:y:2017:i:02:p:365-395_00 is not listed on IDEAS
    31. Peter J. Boettke & William J. Luther, 2010. "The Ordinary Economics of an Extraordinary Crisis," Chapters,in: Macroeconomic Theory and its Failings, chapter 1 Edward Elgar Publishing.
    32. William Luther & Alexander Salter, 2012. "Monetary equilibrium and price stickiness reconsidered: A reply to Bagus and Howden," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(3), pages 263-269, September.
    33. Paul Grauwe, 2010. "The scientific foundation of dynamic stochastic general equilibrium (DSGE) models," Public Choice, Springer, vol. 144(3), pages 413-443, September.
    34. Rowthorn, Robert, 1995. "Capital Formation and Unemployment," Oxford Review of Economic Policy, Oxford University Press, vol. 11(1), pages 26-39, Spring.
    35. Young, Andrew T., 2005. "Reallocating labor to initiate changes in capital structures: Hayek revisited," Economics Letters, Elsevier, vol. 89(3), pages 275-282, December.
    36. Wagner, Richard E., 2012. "A macro economy as an ecology of plans," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 433-444.
    37. Cross, Rod, 1993. "On the Foundations of Hysteresis in Economic Systems," Economics and Philosophy, Cambridge University Press, vol. 9(01), pages 53-74, April.
    38. Steven G. Horwitz & William J. Luther, 2011. "The Great Recession and its Aftermath from a Monetary Equilibrium Theory Perspective," Chapters,in: The Global Financial Crisis, chapter 4 Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. William Luther & Mark Cohen, 2014. "An Empirical Analysis of the Austrian Business Cycle Theory," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 42(2), pages 153-169, June.

    More about this item

    Keywords

    Austrian business cycle; Austrian macroeconomics; business cycle; macroeconomics; macroeconomic fluctuation;

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E14 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Austrian; Evolutionary; Institutional
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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