Una revisión de la enfermedad holandesa a la luz de la teoría austriaca del ciclo económico

A review of the Dutch disease in the light of the Austrian theory of business cycle

Guillermo Rodríguez González

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of this paper is to review the phenomenon has been called Dutch disease in the light of Austrian business cycle theory. To this end we will see the history of Austrian business cycle theory from its roots in Wicksell ([1898] 2000) to the extension of the theory in open economies with fiat currencies in Cachanosky (2012). We will review the concept of Dutch disease and the positions of its nature negative, neutral or positive in terms of growth, along with the problem of real exchange rate and its possible relationship with the long term growth, and taking into account the relevant differences between the economies that emit fiat currencies used as reserves and economies that import those currencies as reserves to issue their money, finally we postulate that the Dutch disease, as the economic malaise, it´s simply a variant specific and peripheral, of the distortions in the inter-temporary structure of capital by bad investments, extensively studied in the Austrian business cycle theory.

Keywords: Enfermedad holandesa; macroeconomía del capital; teoría austriaca del ciclo; dinero fiduciario (search for similar items in EconPapers)
JEL-codes: B53 E50 F31 (search for similar items in EconPapers)
Date: 2012-07-09
New Economics Papers: this item is included in nep-his, nep-hpe and nep-mac
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