Austrian persistence? Capital-based business cycle theory and the dynamics of investment spending

Austrian persistence? Capital-based business cycle theory and the dynamics of investment spending Survey data are used to investigate the very long spending lags estimated in neoclassical studies of investment expenditures. Neoclassical investment theory has trouble explaining the length of these lags. By recognizing the Austrian concept of the capital structure and applying it to the problem, the present paper explains the length of these lags as proceeding from interactions between types of capital. Austrian arguments stemming from Austrian business-cycle theory seem to be needed to explain these lags. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Austrian persistence? Capital-based business cycle theory and the dynamics of investment spending

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2006 by Springer Science + Business Media, Inc.
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1007/s11138-006-6092-x
Publisher site
See Article on Publisher Site

Abstract

Survey data are used to investigate the very long spending lags estimated in neoclassical studies of investment expenditures. Neoclassical investment theory has trouble explaining the length of these lags. By recognizing the Austrian concept of the capital structure and applying it to the problem, the present paper explains the length of these lags as proceeding from interactions between types of capital. Austrian arguments stemming from Austrian business-cycle theory seem to be needed to explain these lags.

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Jan 1, 2006

References

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