Interest Rates, Roundaboutness, and Business Cycles: An Empirical Study
2019 ◽
Vol 22
(3)
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pp. 311-335
Keyword(s):
I show evidence of Austrian boom-bust dynamics in historical data on the production structure of 28 developed economies. I employ an autoregressive distributed lag model to find that policy-induced deviations from the natural rate of interest increases roundaboutness. This could instigate an unsustainable boom. Additionally, I find that early-stage industries have higher cyclical sensitivity than late-stage industries, consistent with Austrian time-value dynamics in the structure of production.
2015 ◽
Vol 63
(3)
◽
pp. 969-977
◽
Keyword(s):
Keyword(s):
2021 ◽
Vol 10
(3)
◽
pp. 767-777
2014 ◽
Vol 20
(77)
◽
pp. 244
2017 ◽
Vol 46
(2)
◽
pp. 129-142
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