Jimmy Saravia

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.

Articles

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.