出版社：Liberalni Institut, University of Economics, Prague
摘要：Cowen (1997) criticizes Austrian Business Cycle Theory (ABCT) on eight
grounds: 1. systematic errors; 2. inflation volatility; 3. confusion of inflation and savings;
4. confusion of inflation and investment; 5. real vs. nominal rates of interest; 6. interest
rate information; 7. investor interpretation of interest rates; 8. validation of inflationary
investments. The present paper rejects all of these claims, and defends ABCT against
them.
