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Robert F. Mulligan

Works Published inSpeeches and PresentationsQuarterly Journal of Austrian Economics

Dean of the School of Business & Economics and Professor of Economics
Hayes 255N


  • Bachelor of Science in Civil Engineering, Illinois Institute of Technology 1983
  • Master of Arts in Economics, State University of New York at Binghamton 1990
  • Doctor of Philosophy in Economics, State University of New York at Binghamton 1993
  • Advanced Studies Certificate in International Economic Policy Research, Institut für Weltwirtschaft Kiel 1995

Research Interests

  • Business Cycle Analysis, Constitutional Political Economy, Maritime Economics, Fractal Analysis of Time Series

Selected Publications

  • "The Wisselbank and Amsterdam Price Volatility: a Fractal Test of the Austrian Fractional-Reserve Banking Hypothesis," with Chris Guzelian, Thomas Jefferson School of Law, Revista Procesos de Mercado—Journal of Market Processes (2016) vol. 12, no. 2: pp. 13-42.
  • "Panama Canal Expansion: Fuel Economy and Logistical Risk," with Gary A. Lombardo, United States Merchant Marine Academy, World Maritime University Journal of Maritime Affairs (2016) vol. 15, no. 1: pp. 5-15.
  • "An Empirical Examination of Minsky's Financial Instability Hypothesis: from Market Process to the Austrian Business Cycle," with Roger Lirely, University of Texas at Tyler, and David Coffee, Western Carolina University, Journal des Économistes et des Études Humaines (2014) vol. 20, no. 1: pp. 1-17.
  • "Multifractality of Sectoral Price Indices: Hurst Signature Analysis of Cantillon Effects in Disequilibrium Factor Markets," Physica A: Statistical Mechanics and its Applications(2014) vol. 403C: pp. 252-264.
  • "A Sectoral Analysis of the Financial Instability Hypothesis," Quarterly Review of Economics and Finance (2013) vol. 53, no. 4: pp. 450-459.
  • "New Evidence on the Structure of Production: Real and Austrian Business Cycle Theory in Light of Minsky's Financial Instability Hypothesis," Journal of Economic Behavior and Organization (2013) vol. 89: pp. 67-77.

Selected Previous Employment Positions

  • Acting Associate Graduate Dean, Western Carolina University
  • Professor of Economics and Head, Department of Accounting, Finance, Information Systems, & Economics, College of Business, Western Carolina University
  • Visiting Assistant Professor of Economics & Finance, School of Management, Clarkson University

Selected Awards

  • Excellence in Research Award, College of Business, Western Carolina University, 2015
  • University Scholar Award, Western Carolina University, 2012
  • O.P. Alford III Prize, Ludwig von Mises Institute, 2008, "for the scholarly article published during 2006-2007 that best advances libertarian scholarship," for "Property Rights and Time Preference," Quarterly Journal of Austrian Economics (2007) vol. 10, no. 1: pp. 21-47.






All Works

Publication Activity in Austrian Journals 2001–2010

Austrian Economics Overview

11/17/2015Quarterly Journal of Austrian Economics
Journal publications are used to rank institutions by research productivity in Austrian economics. An incidental byproduct is a ranking of scholars in the Austrian school.
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The Central Fallacy of Keynesian Economics

Calculation and KnowledgeFiscal TheoryMonetary Theory

11/19/2014Quarterly Journal of Austrian Economics
Keynes’s theory of Aggregate Expenditures from the General Theory is examined and criticized. Keynes suggested numerous reasons why his marginal propensity to consume (MPC) might vary across individuals, over different time periods, and might be fundamentally heterogeneous in other...
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An Empirical Examination of Austrian Business Cycle Theory

Booms and BustsBusiness Cycles

07/30/2014Quarterly Journal of Austrian Economics
ABC theory is founded on the concept of a sustainable, market-determined interest rate, and predicts negative consequences when that equilibrium is persistently disturbed.


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Property Rights and Time Preference

Private Property

07/30/2014Quarterly Journal of Austrian Economics
Time preference, one of the fundamental concepts of economics, is the ratio between the present values of present and future goods. Mises (1949) holds that time preference is the only reason


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Entrepreneurial Planning in a Regulated Environment: the U.S. Federal Maritime Commission and the Maritime Industry

The EntrepreneurEntrepreneurship

07/30/2014Quarterly Journal of Austrian Economics
Entrepreneurs exploit market opportunities and innovate to achieve or maintain strategic advantage over their competitors.In the absence of government regulation,


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