Reallocating labor to initiate changes in capital structures: Hayek revisited

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23 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 languageEnglish
Pages (from-to)275-282
Number of pages8
JournalEconomics Letters
Volume89
Issue number3
DOIs
StatePublished - Dec 2005

Keywords

  • Job reallocation
  • Monetary policy

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