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The Explanation of the Subprime Crisis According to the Austrian School: A Defense and Illustration

The Explanation of the Subprime Crisis According to the Austrian School: A Defense and Illustration Abstract This paper aims, first of all, at showing that there is a very close correspondence between the series of events of the subprime cycle and the typical process described by the Austrian business cycle theory. It then answers to some of the main criticisms directed against the Austrian explanation of this crisis. It shows, finally, how major aspects of this cycle – housing bubble, governmental policies of credit and housing, financial innovations – can be integrated to or deduced from the Austrian explanatory framework. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal des Économistes et des Études Humaines de Gruyter

The Explanation of the Subprime Crisis According to the Austrian School: A Defense and Illustration

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References (102)

Publisher
de Gruyter
Copyright
Copyright © 2013 by the
ISSN
2194-5799
eISSN
2153-1552
DOI
10.1515/jeeh-2012-0006
Publisher site
See Article on Publisher Site

Abstract

Abstract This paper aims, first of all, at showing that there is a very close correspondence between the series of events of the subprime cycle and the typical process described by the Austrian business cycle theory. It then answers to some of the main criticisms directed against the Austrian explanation of this crisis. It shows, finally, how major aspects of this cycle – housing bubble, governmental policies of credit and housing, financial innovations – can be integrated to or deduced from the Austrian explanatory framework.

Journal

Journal des Économistes et des Études Humainesde Gruyter

Published: Jun 12, 2013

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