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Robert F. Mulligan

Works Published inSpeeches and PresentationsQuarterly Journal of Austrian Economics

AwardsO.P. Alford III Prize in Political Economy

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 respects, but...
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Teaching Austrian Business Cycle Theory and Macroeconomics

Austrian Economics OverviewBusiness Cycles

From the session on "Macroeconomics: Theory, Policy, and Pedagogy," presented at the Austrian Economics Research Conference. Recorded 23 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.
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Has Keynesian Stabilization Policy Actually Stabilized Output and Employment?

Calculation and KnowledgeOther Schools of Thought

From the session on "Studies in Business Cycles," presented at the Austrian Economics Research Conference. Recorded 22 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.
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The Enduring Allure of Objective Probability

Session on Money, Uncertainty, and Equilibrium. Recorded March 10, 2012, at the Ludwig von Mises Institute in Auburn, Alabama. [12:01]
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