Risk and Austrian business‐cycle theory: Rejoinder to Cowen

Critical Review 14 (1):95-97 (2000)
Abstract
abstract Cowen and I agree that rational?expectations theory is unrealistic and that risk is difficult to quantify. However, we continue to disagree about the riskiness of consumption as opposed to investment. Since more investment might lead to a recession if investment is relatively risky, Cowen's use of rational?expectations theory to buttress the Austrian school's claim that market economies can shift toward relatively more investment without experiencing macroeconomic disruption remains suspect.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 9,360
External links
  • Through your library Configure
    References found in this work BETA
    Citations of this work BETA

    No citations found.

    Similar books and articles
    Analytics

    Monthly downloads

    Sorry, there are not enough data points to plot this chart.

    Added to index

    2011-10-18

    Total downloads

    0

    Recent downloads (6 months)

    0

    How can I increase my downloads?

    My notes
    Sign in to use this feature


    Discussion
    Start a new thread
    Order:
    There  are no threads in this forum
    Nothing in this forum yet.