Abstract
Hayek posits that monetary policy alters the capital structures pursued. Job reallocation initiates, implements and operates these structures. A partial adjustment model is estimated using US manufacturing data. The results suggest Haye's theory to be operative but lacking economic significance.
| Original language | English |
|---|---|
| Pages (from-to) | 275-282 |
| Journal | Economics Letters |
| State | Published - Dec 2005 |