Business Cycles

In “The Theory of Money and Credit”, Mises provided the basics for the long-sought explanation for that mysterious and troubling econom

Jeff Deist and David Howden discuss the history of banking in America before 1913 and the entanglements of the Federal Reserve.

There is trouble lurking in each of the book’s four chapters. The text gets off on a wrong foot as Bernanke overviews the origins and purposes of the Fed.

This paper identifies merger waves as parts of Austrian-type business cycles. According to Austrian business cycle theory, when loan rates are reduced below their natural level through bank credit expansion, this falsifies the monetary calculation of capitalist-entrepreneurs, and investments are initiated that calculation showed were not profitable before the interest rate reduction.

Ludwig von Mises Memorial Lecture from the 2014 Austrian Economics Research Conference presented by J. Huston McCulloch. Ludwig von Mises’s writings contain many insights that are very relevant for mainstream macroeconomics.

This very ambitious book starts with the high promise of a radically new and superior theory of business cycles, but when it ends the reader cannot resist the conclusion that the promise has gone unfulfilled.

This book is a long-awaited project among Austrian economists; some of the central contributions found in the book date back nearly a quarter of a century. 

Austrian business cycle theory (ABCT), we contend, is essential to understanding the recent boom and bust cycle in the American (and, to a great extent, the global) economy.

It is with great trepidation and anticipation that we review Robert Shiller’s new book, The Subprime Solution. Trepidation as to the causes of the problem, which were expected to take a behavioral spin.

This paper is a review of Austrian School references in business cycle studies published by the National Bureau of Economic Research.