The Drama Revisited

Ludwig Van Den Hauwe

MPRA Paper from University Library of Munich, Germany

Abstract: Capital-based business cycle theory identifies monetary mismanagement as a major source of economy-wide distortions in the intertemporal allocation of resources by focusing on the relative-price effects - and the corresponding quantity adjustments - of a monetary disturbance, as compared to tracking the movements in macroeconomic aggregates that conceal those relative-price effects. It thus gives us a superior understanding of the real coupling between the short-run and the long-run macroeconomic pictures and of the nature of business cycles.

Keywords: Business; Cycle; Theory (search for similar items in EconPapers)
JEL-codes: E00 (search for similar items in EconPapers)
Date: 2000-06
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Published in The Quarterly Journal of Austrian Economics No. 2 (Summer).Vol. 3(2000): pp. 63-79

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https://mpra.ub.uni-muenchen.de/8821/1/MPRA_paper_8821.pdf revised version (application/pdf)

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