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The Elusive Empirics of Austrian Capital Theory

In: Contemporary Methods and Austrian Economics

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  • Nicolás Cachanosky

Abstract

This chapter uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different alternative solutions to empirical challenges. This chapter also discusses the Austrian literature’s epistemological approach to empirical work to shed light on the controversial relationship between Austrian theory and empirical testing. Finally, this chapter offers examples of how Austrian and mainstream economics can find a common empirical ground.

Suggested Citation

  • Nicolás Cachanosky, 2022. "The Elusive Empirics of Austrian Capital Theory," Advances in Austrian Economics, in: Contemporary Methods and Austrian Economics, volume 26, pages 135-149, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:aaeczz:s1529-213420220000026010
    DOI: 10.1108/S1529-213420220000026010
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    More about this item

    Keywords

    Capital theory; Austrian theory; empirical methods; finance; period of production; business cycles; B40; B53; C00;
    All these keywords.

    JEL classification:

    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • C00 - Mathematical and Quantitative Methods - - General - - - General

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