Re-switching, the average period of production and the Austrian business-cycle theory: A comment on Fratini
Peter Lewin and
Nicolas Cachanosky
The Review of Austrian Economics, 2019, vol. 32, issue 4, No 8, 375-382
Abstract:
Abstract In a recent contribution to this journal Saverio Fratini (Review of Austrian Economics, 2019) offers a critique of our work on Austrian Capital Theory on the grounds that our conception of capital and “roundaboutness” does not appear to provide adequate support for the Austrian business-cycle theory. In this comment we explain why we think this criticism is wrong.
Keywords: Average period of production; Degree of roundaboutness; Capital; Re-switching; Austrian business-cycle theory (search for similar items in EconPapers)
JEL-codes: B25 B53 D24 D33 E32 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)
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DOI: 10.1007/s11138-019-00460-1
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