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Austrian and Real Business Cycle Theory. (Research Notes).

Publication: International Advances in Economic Research
Publication Date: 01-AUG-02
Format: Online - approximately 186 words
Delivery: Immediate Online Access
Full Article Title: Austrian and Real Business Cycle Theory. (Research Notes).(Brief Article)

Article Excerpt
Metropolitan State College of Denver--U.S.A.

The Austrian capital-based macroeconomics theorety separates sustainable from unsustainable growth. While business cycle phenomena may be caused by exogenous shocks as in the Real Business Cycle Theory, cyclical activity is often better interpreted as the consequence of and caused by credit-created unsustainable growth. An...

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