Access the full text.
Sign up today, get DeepDyve free for 14 days.
AT Young (2011)
Illustrating the importance of Austrian business cycle theory: A reply to Murphy, Barnett, and Block; A call for quantitative studyReview of Austrian Economics, 24
L Mises (1934)
The theory of money and credit
JB Taylor (1993)
Discretion versus policy rules in practiceCarnegie-Rochester Conference Series on Public Policy, 39
EC Prescott (1986)
Theory ahead of business cycle measurementFederal Reserve Bank of Minneapolis Quarterly Review, 10
FE Kydland, EC Prescott (1990)
Business cycles: real facts and a monetary mythFederal Reserve Bank of Minneapolis Quarterly Review, 14
M Skousen (1993)
Economics on trial
G Callahan, S Horwitz (2010)
Advances in Austrian business cycle theory
JP Keeler (2001)
Empirical evidence of the Austrian business cycle theoryReview of Austrian Economics, 14
RW Garrison (2001)
Time and money: The macroeconomics of capital structure
FA Hayek (1935)
Prices and production
R Koppl, LB Yeager (1996)
Big players and herding in asset markets: the case of the Russian rubleExplorations in Economic History, 33
AT Young (2005)
Reallocating labor to initiate changes in capital structures: Hayek revisitedEconomics Letters, 89
JP Cochran (2001)
Capital-based macroeconomics: recent developments and extensions of Austrian business cycle theoryQuarterly Journal of Austrian Economics, 4
R Koppl (2002)
Big players and the economic theory of expectations
M Skousen (2007)
The structure of production with a new introduction
RF Mulligan (2002)
A Hayekian analysis of the term structure of productionThe Quarterly Journal of Austrian Economics, 5
W Barnett, B Block (2006)
On Hayekian trianglesProcesos De Mercado: Revista Europea De Economia Politica, 3
FA Hayek (1933)
Monetary theory and the trade cycle
JB Taylor (2009)
Getting off track: How government actions and interventions caused, prolonged, and worsened the financial crisis
RW Garrison (2005)
Modern macroeconomics: Its origin, development and current state
The US time structure of production during the 2002 through 2009 business cycle is characterized empirically using industry-level input-output data. An industry’s total industry output requirement (TIOR) is proposed as a metric for “roundaboutness”. I find that the time structure of production lengthened following the Federal Reserve’s 2002 expansionary deviation from the Taylor rule and then contracted during the Great Recession. Value added growth in the most-roundabout of US industries accelerated relative to that of the least-roundabout industries. Heading into the Great Recession, value-added growth in the most-roundabout industries contracted early and turned negative in 2007 while value-added growth in the least-roundabout industries remained positive until 2009. The stylized facts of the time structure of production are consistent with Austrian Business Cycle Theory.
The Review of Austrian Economics – Springer Journals
Published: Jun 25, 2011
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.