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- Title
The Role of Capital Structure in Austrian Business Cycle Theory.
- Authors
Cachanosky, Nicolás; Lewin, Peter
- Abstract
We argue that the application of financial analysis, especially that of duration, clarifies and supports the application of the average period of production in Austrian business cycle theory. We also suggest that the focus in the recent ABCT literature should be more on the average period of production and less on the stages of production as depicted in Hayek's triangle in Roger Garrison's model.
- Subjects
BUSINESS cycles; AUSTRIAN economy, 1945-; PRODUCTION (Economic theory); CAPITAL structure; ECONOMIC equilibrium; VECTOR error-correction models
- Publication
Journal of Private Enterprise, 2018, Vol 33, Issue 2, p21
- ISSN
0890-913X
- Publication type
Article