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Sustainable growth: hayekian triangles, plucking models, and real business cycles. (Research Notes).

Publication: International Advances in Economic Research
Publication Date: 01-MAY-02
Format: Online
Delivery: Immediate Online Access
Full Article Title: Sustainable growth: hayekian triangles, plucking models, and real business cycles. (Research Notes).(Brief Article)

Article Excerpt
Austrian business cycle theory provides a useful link between monetary and capital theory, and a coupling between the short run and long run. In contrast, monetarists argue that inappropriately tight monetary policy triggers recessions. In a real business cycle, money is endogenous and irrelevant. Exogenous negative productivity shocks cause...

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