Quarterly Journal of Austrian Economics
Author:
Arkadiusz Sieroń
Online Publish Date:
Quarterly Journal of Austrian Economics 18, no. 3 (Fall 2015) ABSTRACT: The aim of the article is to refine the Austrian business cycle theory by discussing the effect of changes in banks’ asset structure on the business cycle. I disaggregate the process of credit expansion in the spirit of Cantillon’s dynamic analysis of how the new money enters