Risk and Austrian business‐cycle theory
Rejoinder to Cowen
Bibliographic Data
| ID | 6252007 |
|---|---|
| Authors | J Barkley Rosser (James Madison University, corresponding author) |
| Year | 2000 |
| Volume | 14 |
| Issue | 1 |
| Pages | 95-97 |
| Publication date | 2000-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Critical Review (JOURNAL) |
| Journal identifiers | ISSN: 0891-3811 • E-ISSN: 1933-8007 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/08913810008443551 |
| OpenAlex | W2046670724 |
| Language | EN |
| Citations received | 1 |
| References cited | 2 |
Cowen and I agree that rational‐expectations theory is unrealistic and that risk is difficult to quantify. However, we continue to disagree about the riskiness of consumption as opposed to investment. Since more investment might lead to a recession if investment is relatively risky, Cowen's use of rational‐expectations theory to buttress the Austrian school's claim that market economies can shift toward relatively more investment without experiencing macroeconomic disruption remains suspect
Business cycle · Consumption (sociology · Criminology · Economics · Investment (military · Keynesian economics · Neoclassical economics · Political science · Recession · Sociology · Suspect · Economic theories and models · Economic Theory and Policy · Law · Monetary Policy and Economic Impact
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,05 |
| Citation span | 2004 - 2004 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |