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The Nature of Boehm-Bawerk's Capital Market

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  • Jean Magnan de Bornier

    () (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique - ECM - Ecole Centrale de Marseille)

Abstract

The capital market in Böhm-Bawerk's Positive Theory of Capital appears at several places. The last chapter of the book provides the complete exposition of Böhm's view of this market where present goods are exchanged for future goods. Studying this exposition leads to understand that many variables, prices as well as quantities, are determined together in this ``enormous market''. The capital market is a macroeconomic system, the nature of which we try to assess.

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  • Jean Magnan de Bornier, 2008. "The Nature of Boehm-Bawerk's Capital Market," Working Papers halshs-00278521, HAL.
  • Handle: RePEc:hal:wpaper:halshs-00278521 Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00278521
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    References listed on IDEAS

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    1. Juan D. Carrillo & Thomas Mariotti, 2000. "Strategic Ignorance as a Self-Disciplining Device," Review of Economic Studies, Oxford University Press, vol. 67(3), pages 529-544.
    2. Brocas, Isabelle & Carrillo, Juan D., 2000. "The value of information when preferences are dynamically inconsistent," European Economic Review, Elsevier, vol. 44(4-6), pages 1104-1115, May.
    3. Salanie, Francois & Treich, Nicolas, 2006. "Over-savings and hyperbolic discounting," European Economic Review, Elsevier, vol. 50(6), pages 1557-1570, August.
    4. Roland Bénabou & Jean Tirole, 2002. "Self-Confidence and Personal Motivation," The Quarterly Journal of Economics, Oxford University Press, vol. 117(3), pages 871-915.
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    Keywords

    Böhm-Bawerk; capital; market; macroeconomics;

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