Work

The “values-riches” model: An alternative to garrison’s model in austrian macroeconomics of growth and cycle

Year: 2005

Type: article

Abstract: The “values-riches” model is a pedagogical and graphical representation of Austrian macroeconomics, combining four elements: the concept of “invariable money” (Reisman 1996), the capitalization theory of interest of Fetter (1904, 1914) and Mises (1998), the Hayekian structure of production (Hayek 1931), and the growth theory of Böhm-Bawerk (1959). This model offers a simple visual illustration of equilibrium, growth, and business cycle as they may be conceived in an Austrian framework.

Source: The Quarterly Journal of Austrian Economics

DOI: 10.1007/s12113-005-1019-0

Author: Renaud Fillieule

Institutions: Université de Lille, Centre Lillois d'Etudes et de Recherches Sociologiques et Economiques, Université Lille 1

Language: English

Topic: Economic Theory and Policy

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1990142386

FWCI: 0.619

Cites: 24

Cited by: 15

Related to: 10