Now showing items 1-3 of 3

    • Hayek's Theory of Business Cycles: Theory That Will Remain Obscure 

      Bilo, Simon (2014-03)
      Hayek’s theory of business cycles has been criticized for its unfeasible policy prescriptions, weak empirical support, and lack of technical rigor. Although the theory can be defended against these criticisms, it violates ...
    • The international business cycle as intertemporal coordination failure 

      Bilo, Simon (Springer, 2016-11-18)
      Where investments are irreversible and the future is uncertain, people in two countries can make investment decisions that turn out to be mutually inconsistent. I argue that this intertemporal coordination failure explains ...
    • Intertemporal capital substitution and Hayekian booms 

      Bilo, Simon (Springer Verlag, 2017-05-03)
      Hayek’s business cycle theory portrays monetary expansion and monetary contraction with counterintuitive asymmetry. On the one hand, it suggests that they both change relative prices and cause costly reallocations of ...