Reallocating Labor to Initiate Changes in Capital Structure: Hayek Revisited

Research output: Contribution to journalArticlepeer-review

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 languageEnglish
Pages (from-to)275-282
JournalEconomics Letters
StatePublished - Dec 2005

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