Rediscovering Mises-Hayek Monetary And Business Cycle Theory In Light Of The Current Crisis: Credit Expansion As A Source Of Economic Boom And Bust
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- David E.W. Laidler, 2016. "The Golden Age of the Quantity Theory," Economics Books, Princeton University Press, edition 1, number 4959.
- Mr. Michael Kumhof & Mr. Jaromir Benes, 2012.
"The Chicago Plan Revisited,"
IMF Working Papers
2012/202, International Monetary Fund.
- Kumhof, Michael & Benes, Jaromir, 2014. "The Chicago Plan Revisited," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100303, Verein für Socialpolitik / German Economic Association.
- Roger W. Garrison, 2004. "Overconsumption and Forced Saving in the Mises-Hayek Theory of the Business Cycle," History of Political Economy, Duke University Press, vol. 36(2), pages 323-349, Summer.
- Claudio Borio, 2011.
"Rediscovering the Macroeconomic Roots of Financial Stability Policy: Journey, Challenges, and a Way Forward,"
Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 87-117, December.
- Claudio Borio, 2011. "Rediscovering the macroeconomic roots of financial stability policy: journey, challenges and a way forward," BIS Working Papers 354, Bank for International Settlements.
- Roberto Motto & Massimo Rostagno & Lawrence J. Christiano, 2010.
"Financial Factors in Economic Fluctuations,"
2010 Meeting Papers
141, Society for Economic Dynamics.
- Christiano, Lawrence & Motto, Roberto & Rostagno, Massimo, 2010. "Financial factors in economic fluctuations," Working Paper Series 1192, European Central Bank.
- Borio, Claudio, 2014.
"The financial cycle and macroeconomics: What have we learnt?,"
Journal of Banking & Finance, Elsevier, vol. 45(C), pages 182-198.
- Claudio Borio, 2012. "The financial cycle and macroeconomics: What have we learnt?," BIS Working Papers 395, Bank for International Settlements.
- Claudio Borio & Piti Disyatat, 2011. "Global imbalances and the financial crisis: Link or no link?," BIS Working Papers 346, Bank for International Settlements.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- repec:rze:efinan:v:9:y:2012:i:2:p:64-74 is not listed on IDEAS
- Leroi RAPUTSOANE, 2015.
"The lean versus clean debate and monetary policy in South Africa,"
Journal of Economics and Political Economy, KSP Journals, vol. 2(4), pages 467-480, December.
- Raputsoane, Leroi, 2015. "The lean versus clean debate and monetary policy in South Africa," MPRA Paper 68123, University Library of Munich, Germany.
- Witold Małecki, 2016. "Finansjalizacja cykli koniunkturalnych i jej konsekwencje dla polityki stabilizacyjnej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 4, pages 47-68.
- Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "La política monetaria cercada por un movimiento de pinzas," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(2), pages 004-044, August.
- Li, Boyao, 2017. "The impact of the Basel III liquidity coverage ratio on macroeconomic stability: An agent-based approach," Economics Discussion Papers 2017-2, Kiel Institute for the World Economy (IfW Kiel).
- Stefan Avdjiev & Zheng Zeng, 2014.
"Credit growth, monetary policy and economic activity in a three-regime TVAR model,"
Applied Economics, Taylor & Francis Journals, vol. 46(24), pages 2936-2951, August.
- Stefan Avdjiev & Zheng Zeng, 2014. "Credit Growth, Monetary Policy, and Economic Activity in a Three-Regime TVAR Model," BIS Working Papers 449, Bank for International Settlements.
- Li, Boyao & Wang, Yougui, 2020. "Money creation within the macroeconomy: An integrated model of banking," International Review of Financial Analysis, Elsevier, vol. 71(C).
- Peter J. Boettke & Alexander W. Salter & Daniel J. Smith, 2018. "Money as meta-rule: Buchanan’s constitutional economics as a foundation for monetary stability," Public Choice, Springer, vol. 176(3), pages 529-555, September.
- Hoffmann, Andreas & Schnabl, Gunther, 2016. "Monetary policies of industrial countries, emerging market credit cycles and feedback effects," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 855-873.
- Ebrahimi Kahou, Mahdi & Lehar, Alfred, 2017.
"Macroprudential policy: A review,"
Journal of Financial Stability, Elsevier, vol. 29(C), pages 92-105.
- Mahdi Ebrahimi Kahou & Alfred Lehar, 2015. "Macroprudential Policy: A Review," SPP Research Papers, The School of Public Policy, University of Calgary, vol. 8(34), October.
- Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2022.
"Why So Low for So Long? A Long-Term View of Real Interest Rates,"
International Journal of Central Banking, International Journal of Central Banking, vol. 18(3), pages 47-87, September.
- Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2017. "Why so low for so long? A long-term view of real interest rates," BIS Working Papers 685, Bank for International Settlements.
- Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Why So Low for So Long? A Long-Term View of Real Interest Rates," PIER Discussion Papers 80, Puey Ungphakorn Institute for Economic Research.
- Borio, Claudio & Disyatat, Piti & Juselius, Mikael & Rungcharoenkitkul, Phurichai, 2017. "Why so low for so long? A long-term view of real interest rates," Bank of Finland Research Discussion Papers 36/2017, Bank of Finland.
- Jose Eduardo Gomez-Gonzalez & Mauricio Villamizar-Villegas & Hector Manuel Zarate & Juan Sebastian Amador & Celina Gaitan-Maldonado, 2015.
"Credit and business cycles: Causal effects in the frequency domain,"
Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 33(78), pages 176-189, December.
- Jose Eduardo Gomez-Gonzalez & Mauricio Villamizar-Villegas & Hector Manuel Zarate & Juan Sebastian Amador & Celina Gaitan-Maldonado, 2015. "Credit and business cycles: Causal effects in the frequency domain," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 33(78), pages 176-189, December.
- Juan Sebastián Amador & Celina Gaitán-Maldonado & José Eduardo Gómez-González & Mauricio Villamizar-Villegas, 2014. "Credit and Business Cycles: An Empirical Analysis in the Frequency Domain," Borradores de Economia 12115, Banco de la Republica.
- Juan Sebastián Amador & Celina Gaitán-Maldonado & José Eduardo Gómez-González & Mauricio Villamizar-Villegas & Héctor Manuel Zárate, 2014. "Credit and Business Cycles: An Empirical Analysis in the Frequency Domain," Borradores de Economia 843, Banco de la Republica de Colombia.
- Mr. Jaromir Benes & Mr. Michael Kumhof & Mr. Douglas Laxton, 2014. "Financial Crises in DSGE Models: A Prototype Model," IMF Working Papers 2014/057, International Monetary Fund.
- Joerg Bibow, 2020. " The General Theory as "Depression Economics"? Financial Instability and Crises in Keynes's Monetary Thought," Economics Working Paper Archive wp_974, Levy Economics Institute.
- Karsten Kohler, 2024.
"Capital Flows and the Eurozone's North-South Divide,"
Politics & Society, , vol. 52(2), pages 304-330, June.
- Karsten Kohler, 2022. "Capital Flows and the Eurozone's North-South Divide," Working Papers PKWP2211, Post Keynesian Economics Society (PKES).
- Unger, Robert, 2016. "Traditional banks, shadow banks and the US credit boom: Credit origination versus financing," Discussion Papers 11/2016, Deutsche Bundesbank.
- Claudio Borio, 2011.
"Rediscovering the Macroeconomic Roots of Financial Stability Policy: Journey, Challenges, and a Way Forward,"
Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 87-117, December.
- Claudio Borio, 2011. "Rediscovering the macroeconomic roots of financial stability policy: journey, challenges and a way forward," BIS Working Papers 354, Bank for International Settlements.
- Enno Schröder, 2015.
"Eurozone Imbalances: Measuring the Contribution of Expenditure Switching and Expenditure Volumes 1990-2013,"
Working Papers
1508, New School for Social Research, Department of Economics, revised Sep 2015.
- Enno Schröder, 2016. "Euro Area Imbalances: Measuring the Contribution of Expenditure Growth and Expenditure Switching," Working Papers 1604, New School for Social Research, Department of Economics.
- repec:zbw:bofrdp:2017_036 is not listed on IDEAS
- Maurice Obstfeld, 2021.
"Trilemmas and Tradeoffs: Living with Financial Globalization,"
World Scientific Book Chapters, in: Steven J Davis & Edward S Robinson & Bernard Yeung (ed.), THE ASIAN MONETARY POLICY FORUM Insights for Central Banking, chapter 2, pages 16-84,
World Scientific Publishing Co. Pte. Ltd..
- Maurice Obstfeld, 2015. "Trilemmas and Tradeoffs: Living with Financial Globalization," Central Banking, Analysis, and Economic Policies Book Series, in: Claudio Raddatz & Diego Saravia & Jaume Ventura (ed.),Global Liquidity, Spillovers to Emerging Markets and Policy Responses, edition 1, volume 20, chapter 2, pages 013-078, Central Bank of Chile.
- Maurice Obstfeld, 2015. "Trilemmas and trade-offs: living with financial globalisation," BIS Working Papers 480, Bank for International Settlements.
- Shengnan Lv & Zeshui Xu & Xuecheng Fan & Yong Qin & Marinko Skare, 2023. "The mean reversion/persistence of financial cycles: Empirical evidence for 24 countries worldwide," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 18(1), pages 11-47, March.
- Andrzej Sławiński, 2013. "Institutional Causes of the Global Banking Crisis and the Emergence of Macro-Prudential Countercyclical Policy," FindEcon Chapters: Forecasting Financial Markets and Economic Decision-Making, in: Władysław Milo & Piotr Wdowiński (ed.), Acta Universitatis Lodziensis. Folia Oeconomica nr 295/2013 - Financial Markets and Macroprudential Policy, edition 1, volume 127, chapter 1, pages 7-24, University of Lodz.
More about this item
Keywords
Mises; Borio; Austrian School; Chicago Plan; private money creation; fiat money; fiduciary money; boom-bust cycles Least Squares Method;All these keywords.
JEL classification:
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rze:efinan:v:9:y:2013:i:2:p:64-74. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Pawel Bochenek (email available below). General contact details of provider: https://edirc.repec.org/data/igwsipl.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.