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Jimmy Saravia

Works Published inQuarterly Journal of Austrian Economics

Jimmy Saravia is a professor, Grupo de Investigación en Banca y Finanzas, School of Economics and Finance, Center for Research in Economics and Finance (CIEF), Universidad EAFIT, Medellín, Colombia.

All Works

Merger Waves and the Austrian Business Cycle Theory

Booms and BustsBusiness Cycles

08/21/2014Quarterly Journal of Austrian Economics
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...


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