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Big Players in Slovenia

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  • Koppl, Roger
  • Mramor, Dusan

Abstract

The subjectivism of Austrian economics helps to explain the statistical fact of long memory in asset prices. The theory of Big Players is an Austrian approach to understanding the effects of discretionary policymaking in markets. It leads to implications that can be tested with statistics. In particular, Big Players induce herding and, thereby, an increase of persistence in asset prices. A recent episode in Slovenian monetary theory provides a case study. This case study adds to a set of similar studies, all tending to support the theory of Big Players. Copyright 2003 by Kluwer Academic Publishers

Suggested Citation

  • Koppl, Roger & Mramor, Dusan, 2003. "Big Players in Slovenia," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 16(2-3), pages 253-269, September.
    • Handle: RePEc:kap:revaec:v:16:y:2003:i:2-3:p:253-69
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    Cited by:

    1. David Howden, 2010. "Knowledge shifts and the business cycle: When boom turns to bust," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(2), pages 165-182, June.
    2. Philipp Bagus, 2008. "Monetary policy as bad medicine: The volatile relationship between business cycles and asset prices," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(4), pages 283-300, December.

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