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Home | Mises Library | Note: Wolverines, Razorbacks, and Skyscrapers

Note: Wolverines, Razorbacks, and Skyscrapers

  • The Quarterly Journal of Austrian Economics
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Tags Booms and BustsBusiness Cycles

07/30/2014Greg Kaza

Volume 13, Number 4 (Winter 2010)

 

The Cantillon effects cited in Thornton (2005) are a consequence of the central bank, and result in entrepreneurial errors during expansions in the NBER’s US business cycle chronology. Completion of the Woolworth Building and other skyscrapers coincide with NBER-identified contractions when the errors are revealed. Effects are also evident at the non-national level, including the sister states of Arkansas and Michigan, where the Dime, Penobscot, Renaissance Tower, Pyramid Life, Union Life, Donaghey, Tower, Bank of America and Region’s Bank buildings were completed around contractions. The tallest or once-tallest buildings in forty states were completed in NBER-identified contractions.

Cite This Article

Kaza, Greg. "Note: Wolverines, Razorbacks, and Skyscrapers." The Quarterly Journal of Austrian Economics 13, No. 4 (Winter 2010): 74–79.

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