Reallocating labor to initiate changes in capital structures: Hayek revisited

Andrew T. Young

doi:10.1016/j.econlet.2005.05.033

Reallocating labor to initiate changes in capital structures: Hayek revisited

Andrew T. Young

Free Market Institute

Research output: Contribution to journal › Article › peer-review

28 Scopus citations

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 Hayek's theory to be operative but lacking economic significance.

Original language	English
Pages (from-to)	275-282
Number of pages	8
Journal	Economics Letters
Volume	89
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2005.05.033
State	Published - Dec 2005

Keywords

Job reallocation
Monetary policy

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10.1016/j.econlet.2005.05.033

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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 Hayek's theory to be operative but lacking economic significance.",

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Reallocating labor to initiate changes in capital structures: Hayek revisited

Abstract

Keywords

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