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:
Departments: Lancaster University Management School > Economics
ID Code: 45256
Deposited By: ep_importer_pure
Deposited On: 11 Jul 2011 18:29
Refereed?: Yes
Published?: Published
Last Modified: 22 Jun 2019 04:07
URI: https://eprints.lancs.ac.uk/id/eprint/45256

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