کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
988825 | 935367 | 2007 | 21 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Credit cycles in a Neo-Austrian economy
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
This paper discusses the relationship between firms' access to credit market and business fluctuations in a sequential Neo-Austrian economy. Existence of cycles reflects a fundamental distortion in the intertemporal structure of production, that is a lack of coordination between utilization of productive capacity and construction of new machines. The role of credit market institutions is to sustain viability of the economy along an out-of-equilibrium transition. Allowing for a high degree of price flexibility turns out not to be a general response to boosts in capital accumulation and employment. When we focus on an irreversible, off-equilibrium dynamics the coordination of policy interventions becomes a relevant tool to govern fluctuations.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Structural Change and Economic Dynamics - Volume 18, Issue 2, June 2007, Pages 249-269
Journal: Structural Change and Economic Dynamics - Volume 18, Issue 2, June 2007, Pages 249-269
نویسندگان
Andrea Attar, Eloisa Campioni,