IDEAS home Printed from https://ideas.repec.org/a/rnp/ecopol/1526.html
   My bibliography  Save this article

Austrian Business Cycle Theory: An Evolution and Contemporary Condition

Author

Listed:
  • Kavaliov, Aliaksandr

    () (Centre for Business Education, European Humanities University)

Abstract

The aim of the paper is to analyze the process of evolution of Austrian Business Cycle Theory (ATBC). The theory was very popular until 1940 however after that it was in the shadow for the long years. The theory explains business cycle with fiduciary credit and other governmental distortion which lower interest rates and lead to incorrect capital structure compare to sustainable growth which supported by voluntary savings. ATBC considers laissez-faire as the most effective anticyclical economic policy. The paper presents the contribution to the theory made both by former leaders of the school (Mises, Hayek) and by contemporary adepts of the school.

Suggested Citation

  • Kavaliov, Aliaksandr, 2015. "Austrian Business Cycle Theory: An Evolution and Contemporary Condition," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 43-62.
  • Handle: RePEc:rnp:ecopol:1526
    as

    Download full text from publisher

    File URL: ftp://w82.ranepa.ru/rnp/ecopol/ep1526.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. repec:mes:ijpoec:v:20:y:1990:i:4:p:14-41 is not listed on IDEAS
    2. S. E Oppers, 2002. "The Austrian Theory of Business Cycles; Old Lessons for Modern Economic Policy?," IMF Working Papers 02/2, International Monetary Fund.
    3. L. Grebnev., 2007. "On the Subject Matter of Economic Science, or Where Should We Begin while Teaching Economics?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 8.
    4. Vaughn,Karen I., 1994. "Austrian Economics in America," Cambridge Books, Cambridge University Press, number 9780521445528, October.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Austrian school; business cycles; fiduciary media; malinvestment; capital structure;

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rnp:ecopol:1526. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (RANEPA maintainer). General contact details of provider: http://edirc.repec.org/data/aneeeru.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.