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15.5.2017 - 23.6.2017 - Zkouškové období

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Tomáš Frömmel: Austrian business cycle theory and price expectations of entrepreneurs

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V pondělí 18. 04. 2016 v 16.15 v NB467 (patro nad NF) vystoupí Tomáš Frömmel se svým příspěvkem o roli očekávání v rakouské teorii hospodářského cyklu.

Abstract
Common critique of the Austrian business cycle theory states that the Austrian cycle could not be initiated under the rational expectations hypothesis. This thesis therefore investigates the role of price expectations of entrepreneurs in the Austrian cycle theory. We conclude that this theory might be compatible with rational expectations only under several assumptions. The rational expectations hypothesis is, however, evaluated rather critically concluding it is quite strong and unrealistic assumption.
Working paper je k dispozici zde.