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)
DOI 10.1080/08913810008443551
Options
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

Our Archive


Upload a copy of this paper     Check publisher's policy     Papers currently archived: 47,299
External links

Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library

References found in this work BETA

Risk and Business Cycles: Reply to Rosser.Tyler Cowen - 2000 - Critical Review 14 (1):89-94.

Add more references

Citations of this work BETA

Add more citations

Similar books and articles

Analytics

Added to PP index
2011-10-18

Total views
4 ( #1,148,493 of 2,290,759 )

Recent downloads (6 months)
2 ( #582,435 of 2,290,759 )

How can I increase my downloads?

Downloads

My notes

Sign in to use this feature