Sökning: "Anders Elfving"

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  1. 1. Analysis of US Sectoral Business Cycles: A Quantitative Study of Austrian Business Cycle Theory

    Magister-uppsats, Lunds universitet/Nationalekonomiska institutionen

    Författare :Ralf Elfving; Anders Lindén; [2011]
    Nyckelord :Austrian Business Cycle Theory; Natural Rate of Interest; Cointegration; Business Cycles; Vector Error Correction Model; Business and Economics;

    Sammanfattning : According to Austrian Business Cycle Theory a policy-induced lowering of the short policy interest rate below an unobservable natural interest rate can lead to an unsustainable boom in the economy, resulting in misallocated capital. As the unsustainability of this boom eventually becomes apparent and corrected the misallocated capital gets liquidated and causes a recession. LÄS MER