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- Austrian_business_cycle_theory abstract "The Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics concerning how business cycles occur. The theory views business cycles as the consequence of excessive growth in bank credit, due to an artificially low market rate of interest. The Austrian business cycle theory originated in the work of Austrian School economists Ludwig von Mises and Friedrich Hayek. Hayek won the Nobel Prize in economics in 1974 (shared with Gunnar Myrdal) in part for his work on this theory.Proponents believe that a sustained period of low interest rates and excessive credit creation result in a volatile and unstable imbalance between saving and investment. According to the theory, the business cycle unfolds in the following way: Low interest rates tend to stimulate borrowing from the banking system. It is argued that this leads to an increase in capital spending funded by newly issued bank credit. Proponents hold that a credit-sourced boom results in widespread malinvestment. In the theory, a correction or "credit crunch" – commonly called a "recession" or "bust" – occurs when the credit creation has run its course. Then the money supply contracts, causing resources to be reallocated back towards their former uses.Austrian business cycle theory states that distortions in the availability of credit are the cause of business cycles. A modern presentation of this theory can be found in the book "Time and Money" by Roger Garrison, which presents a graphical framework for capital-based macroeconomics and offers a critique of Keynesian graphical analysis.The Austrian explanation of the business cycle differs significantly from the mainstream understanding of business cycles and is generally rejected by mainstream economists.".
- Austrian_business_cycle_theory wikiPageExternalLink desoto.pdf.
- Austrian_business_cycle_theory wikiPageExternalLink 08-Garrison.mp3.
- Austrian_business_cycle_theory wikiPageExternalLink 3466.
- Austrian_business_cycle_theory wikiPageExternalLink 672.
- Austrian_business_cycle_theory wikiPageExternalLink full.
- Austrian_business_cycle_theory wikiPageExternalLink a1abc.htm.
- Austrian_business_cycle_theory wikiPageExternalLink fullstory.aspx?Id=572.
- Austrian_business_cycle_theory wikiPageExternalLink agd.pdf.
- Austrian_business_cycle_theory wikiPageExternalLink 1099.
- Austrian_business_cycle_theory wikiPageID "2630062".
- Austrian_business_cycle_theory wikiPageRevisionID "596793395".
- Austrian_business_cycle_theory hasPhotoCollection Austrian_business_cycle_theory.
- Austrian_business_cycle_theory subject Category:Austrian_School.
- Austrian_business_cycle_theory subject Category:Business_cycle_theory.
- Austrian_business_cycle_theory subject Category:Friedrich_Hayek.
- Austrian_business_cycle_theory subject Category:Macroeconomics.
- Austrian_business_cycle_theory comment "The Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics concerning how business cycles occur. The theory views business cycles as the consequence of excessive growth in bank credit, due to an artificially low market rate of interest. The Austrian business cycle theory originated in the work of Austrian School economists Ludwig von Mises and Friedrich Hayek.".
- Austrian_business_cycle_theory label "Austriacka teoria cyklu koniunkturalnego".
- Austrian_business_cycle_theory label "Austrian business cycle theory".
- Austrian_business_cycle_theory label "Teoria austriaca del ciclo economico".
- Austrian_business_cycle_theory label "Teoria austríaca do ciclo económico".
- Austrian_business_cycle_theory label "Überinvestitionstheorie".
- Austrian_business_cycle_theory label "Австрийская теория экономических циклов".
- Austrian_business_cycle_theory sameAs Rakouská_teorie_hospodářského_cyklu.
- Austrian_business_cycle_theory sameAs Überinvestitionstheorie.
- Austrian_business_cycle_theory sameAs Teoría_austriaca_del_ciclo_económico.
- Austrian_business_cycle_theory sameAs Teoria_austriaca_del_ciclo_economico.
- Austrian_business_cycle_theory sameAs Austriacka_teoria_cyklu_koniunkturalnego.
- Austrian_business_cycle_theory sameAs Teoria_austríaca_do_ciclo_económico.
- Austrian_business_cycle_theory sameAs m.07sy57.
- Austrian_business_cycle_theory sameAs Q2324183.
- Austrian_business_cycle_theory sameAs Q2324183.
- Austrian_business_cycle_theory wasDerivedFrom Austrian_business_cycle_theory?oldid=596793395.
- Austrian_business_cycle_theory isPrimaryTopicOf Austrian_business_cycle_theory.