The Austrian Business Cycle Theory in the Perspective of the GSMS Model
Autor(a) principal: | |
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Data de Publicação: | 2014 |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Mises |
Texto Completo: | https://revistamises.org.br/misesjournal/article/view/583 |
Resumo: | Despite the attention that the Austrian business cycle theory has received from academic economists over the past decades, its contents remained unclear, since it lacks a compact analytical model. The GSMS model (goods side - money side) is an approach that should make the Austrian theory of the business cycles accessible for those who have a formal education in economics, but are not sufficiently proficient with some details of Austrian theory. The GSMS model differs from the conventional approach of macroeconomics by its non-interventionist orientation. While conventional models of macroeconomic analysis have been used to design interventions of monetary and fiscal policy to achieve macroeconomic policy objectives, the GSMS model shows that macroeconomic policies are the sources of economic disturbances. In this sense, the GSMS model is not a policy tool, but a model that shows how the macroeconomy works. |
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The Austrian Business Cycle Theory in the Perspective of the GSMS ModelA Teoria Austríaca do Ciclo de Negócios na Perspectiva do Modelo GSMSEscola AustríacaCiclos EconômicosMacroeconomiaModelo GSMSAustrian School of EconomicsBusiness CyclesMacroeconomicsGSMS ModelDespite the attention that the Austrian business cycle theory has received from academic economists over the past decades, its contents remained unclear, since it lacks a compact analytical model. The GSMS model (goods side - money side) is an approach that should make the Austrian theory of the business cycles accessible for those who have a formal education in economics, but are not sufficiently proficient with some details of Austrian theory. The GSMS model differs from the conventional approach of macroeconomics by its non-interventionist orientation. While conventional models of macroeconomic analysis have been used to design interventions of monetary and fiscal policy to achieve macroeconomic policy objectives, the GSMS model shows that macroeconomic policies are the sources of economic disturbances. In this sense, the GSMS model is not a policy tool, but a model that shows how the macroeconomy works.Apesar da atenção que a teoria austríaca dos ciclos econômicos tem recebido de economistas acadêmicos nas décadas passadas, o seu conteúdo analítico permaneceu obscuro por causa da falta de um modelo analítico compacto. O modelo GSMS (goods side – money side) representa uma abordagem que deve tornar a teoria austríaca dos ciclos de negócios acessível para aqueles que têm uma educação formal em economia, mas não são suficientemente conhecedores dos pormenores da teoria austríaca. O modelo GSMS se distingue da abordagem convencional da macroeconomia por sua orientação não-intervencionista. Enquanto os modelos da análise macroeconômica convencional servem para projetar as intervenções da política monetária e fiscal a fim de obter objetivos de política macroeconômica, o modelo GSMS mostra que essas políticas são fontes de perturbações econômicas. Neste sentido o modelo GSMS não é um modelo de ferramentas, mas um modelo que mostra como a macroeconomia funciona.Instituto Mises Brasil2014-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistamises.org.br/misesjournal/article/view/58310.30800/mises.2014.v2.583MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 2 No. 1 (2014); 99-108MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 2 Núm. 1 (2014); 99-108MISES: Interdisciplinary Journal of Philosophy, Law and Economics; v. 2 n. 1 (2014); 99-1082594-91872318-0811reponame:Misesinstname:Instituto Mises Brasilinstacron:IMBporhttps://revistamises.org.br/misesjournal/article/view/583/291Mueller, Antony P.info:eu-repo/semantics/openAccess2019-06-08T02:31:56Zoai:ojs.emnuvens.com.br:article/583Revistahttps://revistamises.org.br/misesjournalPRIhttps://revistamises.org.br/misesjournal/oairevista@mises.org.br2594-91872318-0811opendoar:2019-06-08T02:31:56Mises - Instituto Mises Brasilfalse |
dc.title.none.fl_str_mv |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model A Teoria Austríaca do Ciclo de Negócios na Perspectiva do Modelo GSMS |
title |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model |
spellingShingle |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model Mueller, Antony P. Escola Austríaca Ciclos Econômicos Macroeconomia Modelo GSMS Austrian School of Economics Business Cycles Macroeconomics GSMS Model |
title_short |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model |
title_full |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model |
title_fullStr |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model |
title_full_unstemmed |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model |
title_sort |
The Austrian Business Cycle Theory in the Perspective of the GSMS Model |
author |
Mueller, Antony P. |
author_facet |
Mueller, Antony P. |
author_role |
author |
dc.contributor.author.fl_str_mv |
Mueller, Antony P. |
dc.subject.por.fl_str_mv |
Escola Austríaca Ciclos Econômicos Macroeconomia Modelo GSMS Austrian School of Economics Business Cycles Macroeconomics GSMS Model |
topic |
Escola Austríaca Ciclos Econômicos Macroeconomia Modelo GSMS Austrian School of Economics Business Cycles Macroeconomics GSMS Model |
description |
Despite the attention that the Austrian business cycle theory has received from academic economists over the past decades, its contents remained unclear, since it lacks a compact analytical model. The GSMS model (goods side - money side) is an approach that should make the Austrian theory of the business cycles accessible for those who have a formal education in economics, but are not sufficiently proficient with some details of Austrian theory. The GSMS model differs from the conventional approach of macroeconomics by its non-interventionist orientation. While conventional models of macroeconomic analysis have been used to design interventions of monetary and fiscal policy to achieve macroeconomic policy objectives, the GSMS model shows that macroeconomic policies are the sources of economic disturbances. In this sense, the GSMS model is not a policy tool, but a model that shows how the macroeconomy works. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://revistamises.org.br/misesjournal/article/view/583 10.30800/mises.2014.v2.583 |
url |
https://revistamises.org.br/misesjournal/article/view/583 |
identifier_str_mv |
10.30800/mises.2014.v2.583 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://revistamises.org.br/misesjournal/article/view/583/291 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Instituto Mises Brasil |
publisher.none.fl_str_mv |
Instituto Mises Brasil |
dc.source.none.fl_str_mv |
MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 2 No. 1 (2014); 99-108 MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 2 Núm. 1 (2014); 99-108 MISES: Interdisciplinary Journal of Philosophy, Law and Economics; v. 2 n. 1 (2014); 99-108 2594-9187 2318-0811 reponame:Mises instname:Instituto Mises Brasil instacron:IMB |
instname_str |
Instituto Mises Brasil |
instacron_str |
IMB |
institution |
IMB |
reponame_str |
Mises |
collection |
Mises |
repository.name.fl_str_mv |
Mises - Instituto Mises Brasil |
repository.mail.fl_str_mv |
revista@mises.org.br |
_version_ |
1798313180472016896 |