International Empirical Evidence on the ABC’s of Recessions

Mike Tsionas

Chapter Chapter 40 in The Euro and International Financial Stability, 2014, pp 285-308 from Springer

Abstract: Abstract In this part we test the validity of the Austrian theory of the Business Cycle (ABC). We use data for major economies over 1980–2006 well before the 2008 financial crisis. We utilize the information available in the most efficient manner through panel unit root panel co-integration analysis. The relationships between variables in the Austrian theory of business cycle are studied with co-integration techniques. We investigate the causality implications of the Austrian theory at various time horizons using the method of Dufour et al. (2006). All our results tend to favour the Austrian theory in general terms

Keywords: Interest Rate; Business Cycle; Money Supply; Panel Unit Root Test; Credit Expansion (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-319-01171-4_40

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DOI: 10.1007/978-3-319-01171-4_40

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