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Further Dynamics of the Interest Rate in Austrian Theory

In: Austrian Theory of Capital and Business Cycle

Author

Listed:
  • Pavel Potuzak

    (Prague University of Economics and Business)

Abstract

This chapter analyses a positive technological shock that leads to greater demand for credit, which is consequently accommodated by the banking system. Representative balance sheets of commercial banks are introduced along with two fundamental responses of banks to the increased demand for credit. The pattern of the Austrian business cycle is then presented in the model. The emphasis is put on the elastic money supply and its endogenous character. This section also introduces unstable demand for money as a possible source of economic fluctuations.

Suggested Citation

  • Pavel Potuzak, 2022. "Further Dynamics of the Interest Rate in Austrian Theory," Springer Books, in: Austrian Theory of Capital and Business Cycle, chapter 0, pages 117-132, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-18728-5_7
    DOI: 10.1007/978-3-031-18728-5_7
    as

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