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Expectation in Austrian business cycle theory: Market share matters

Nicolas Cachanosky ()

The Review of Austrian Economics, 2015, vol. 28, issue 2, 151-165

Abstract: One of the most important objections to the Mises-Hayek business cycle theory is the rational expectations critique. The debate between supporters and critics of the Mises-Hayek theory has not paid sufficient attention to the problem of differences in expectations and the market share in the allocation of production factors. I represent financially the effects that occur under the Austrian business cycle theory in the market of production factors as well as how economic imbalances occur when a central bank follows an expansionary policy and entrepreneurs have different expectations. Copyright Springer Science+Business Media New York 2015

Keywords: Austrian business cycle theory; Rational expectations; Market share; EVA(R); Economic value added (search for similar items in EconPapers)
Date: 2015
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