The Elusive Empirics of Austrian Capital Theory

Nicolas Cachanosky

A chapter in Contemporary Methods and Austrian Economics, 2022, vol. 26, pp 135-149 from Emerald Group Publishing Limited

Abstract: This chapter uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different alternative solutions to empirical challenges. This chapter also discusses the Austrian literature’s epistemological approach to empirical work to shed light on the controversial relationship between Austrian theory and empirical testing. Finally, this chapter offers examples of how Austrian and mainstream economics can find a common empirical ground.

Keywords: Capital theory; Austrian theory; empirical methods; finance; period of production; business cycles; B40; B53; C00 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:aaeczz:s1529-213420220000026010

DOI: 10.1108/S1529-213420220000026010

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