The Mises-Hayek business cycle theory
DOI:
https://doi.org/10.52195/pm.v9i2.225Abstract
The Paper is an Overview of Austrian Business Cycle Theory (ABCT) phenomena it is intended to explain, economy wide crisis especially concentrated on the banking sector. A short examination of similarities and differences between Mises and Hayek, the main developers of ABCT, is then given. Finally, some policy recommendations are examined in the light of ABCT.
Key words: Financial Crisis, Business Cycle, Inflation, Saving.
JEL Classification: B53, E42, E44, E61, G01, G21, P10, P20.
Resumen: El artículo es una visión general de la Teoría Austriaca del Ciclo Económico (TACE) basada en un primer contacto con la literatura. La TACE se presenta en términos de los fenómenos que intenta explicar: crisis eco-nómicas, concentradas en el sector bancario. Después se expone una breve investigación de las semejanzas y diferencias entre Mises y Hayek, los prin - cipales contribuyentes a la TACE. El trabajo concluye con unas recomenda-ciones de política económica que se analizan a la luz de la TACE.
Palabras clave: Crisis Financiera, Ciclo Económico, Inflación, Ahorro.
Clasificación JEL: B53, E42, E44, E61, G01, G21, P10, P20.
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