Big Players in Slovenia

Roger Koppl () and Dusan Mramor

The Review of Austrian Economics, 2003, vol. 16, issue 2-3, 253-69

Abstract: The subjectivism of Austrian economics helps to explain the statistical fact of long memory in asset prices. The theory of Big Players is an Austrian approach to understanding the effects of discretionary policymaking in markets. It leads to implications that can be tested with statistics. In particular, Big Players induce herding and, thereby, an increase of persistence in asset prices. A recent episode in Slovenian monetary theory provides a case study. This case study adds to a set of similar studies, all tending to support the theory of Big Players. Copyright 2003 by Kluwer Academic Publishers

Date: 2003
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