Ciclo económico de Colombia: una mirada desde la teoría austriaca (1994-2004)

The Austrian Business Cycle Theory is founded on monetary transmission mechanisms in order to explain peaks and troughs in the business cycle. According to Austrian postulates, markets are dynamic interaction processes among economic agents, in which a general situation of coordination between consu...

Full description

Autores:
Cano Gamboa, Carlos Andrés
Tipo de recurso:
Fecha de publicación:
2007
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
spa
OAI Identifier:
oai:repository.eafit.edu.co:10784/941
Acceso en línea:
http://hdl.handle.net/10784/941
Palabra clave:
Austrian school
Austrian economic cycles
Economic growth
Escuela austriaca
Ciclos económicos austriacos
Crecimiento económico
Rights
License
Acceso abierto
Description
Summary:The Austrian Business Cycle Theory is founded on monetary transmission mechanisms in order to explain peaks and troughs in the business cycle. According to Austrian postulates, markets are dynamic interaction processes among economic agents, in which a general situation of coordination between consumption and production plans through time is not identifie . Asymmetric information is deemed to be the cause of such impossibility. Thus, the economic system fluctuates according to two tendencies: disequilibrium, caused by the absence of complete information, and equilibrium, based on the agent’s innate sense of generating opportunities for economic benefits. Based on these ideas, the existing relationship between real and monetary variables in the Colombian economy between 1990 and 2005 is analyzed. This is done though a graphical analysis and a through a model of co-integration.