Austrian business cycle theory, Keyne's general theory, soaring wheat prices and sub-prime mortgage write-downs

Steele, G R (2008) Austrian business cycle theory, Keyne's general theory, soaring wheat prices and sub-prime mortgage write-downs. Quarterly Journal of Austrian Economics, 11 (2). pp. 119-122. ISSN 1098-3708

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Abstract

Keynes’s presentation of own rates of interest on wheat and housing is set within Austrian business cycle theory, to show that soaring wheat prices and subprime mortgage writedowns are expected, when a monetary authority holds interest rates too low for too long. From that basis, further interest rate cuts are an unlikely remedy for a recession whose roots lie in a proliferation of credit.

Item Type:
Journal Article
Journal or Publication Title:
Quarterly Journal of Austrian Economics
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/aacsb/disciplinebasedresearch
Subjects:
ID Code:
45256
Deposited By:
Deposited On:
11 Jul 2011 18:29
Refereed?:
Yes
Published?:
Published
Last Modified:
01 Jan 2020 07:30