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Empirical Evidence on the Austrian Business Cycles Theory
[La théorie autrichienne du cycle économique : un test empirique]

Author

Listed:
  • Francis Bismans

    (Structure, Dynamique, Fonction Et Expression Des Beta-Lactamases À Large Spectre - UP11 UFR Médecine - Université Paris-Sud - Paris 11 - Faculté de médecine - UP11 - Université Paris-Sud - Paris 11 - CNR - Centre National de Référence de la Résistance aux Antibiotiques - CHRU Besançon - Centre Hospitalier Régional Universitaire de Besançon)

  • Christelle Mougeot

    (BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

Abstract

The Austrian approach to business cycles has seldom examined in econometrical terms. This paper first reviews the essentials of that approach and the recent application of the Austrian business cycle theory in the economics literature. Quarterly data for Germany, USA, England and France, 1980 : 1 through 2006 : 1, are used to explore business cycle facts and relations between terms structure of interest rates relative prices, composition of aggregate expenditure and income. Results are consistent with the hypothesis of the Austrian Business Cycle Theory caused by a monetary shock and propagated by relative price changes.

Suggested Citation

  • Francis Bismans & Christelle Mougeot, 2008. "Empirical Evidence on the Austrian Business Cycles Theory [La théorie autrichienne du cycle économique : un test empirique]," Post-Print hal-00279411, HAL.
    • Handle: RePEc:hal:journl:hal-00279411
    DOI: 10.3406/rfeco.2008.1716
    as

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