IDEAS home Printed from https://ideas.repec.org/p/zbw/leiwps/141.html
   My bibliography  Save this paper

Hayeks Überinvestitionstheorie

Author

Listed:
  • Quaas, Friedrun
  • Quaas, Georg

Abstract

Die Austrian Business Cycle-Theorie behauptet, dass am Anfang eines konjunkturellen Aufschwungs eine kreditfinanzierte Überinvestition stattfindet, die (in der Version Garrisons und in Anlehnung an von Mises) eventuell von einer Überkonsumtion begleitet wird. Beiden Varianten liegt die Überinvestitionstheorie Hayeks zugrunde, die dieser umfassend in "Preise und Produktion" (1931) darstellt, wobei er eine Reihe von Vorarbeiten benutzt, unter anderem seine eigenen Überlegungen zur Konjunktur- und Geldtheorie von 1929. In den beiden Jahren dazwischen erfolgt eine Verschiebung des Objekts seiner Kritik vom Bankensystem zur Zentralbank, der Hayek im Jahr 1931, das heißt inmitten einer weltweiten Deflation und angesichts knappen Geldes, empfiehlt, das Geld noch mehr an die Zügel zu legen, die Zinsen nicht zu senken, sondern zu erhöhen. Solche paradoxen Konsequenzen sind gerechtfertigt, wenn sie aufgrund einer logisch einwandfreien Theorie gezogen werden, die den härtesten empirischen Überprüfungen ausgesetzt worden ist. Letzteres setzt eine mathematische Modellierung voraus, die sowohl den Intentionen Hayeks als auch den Anforderungen der Volkswirtschaftlichen Gesamtrechnungen genügt. Ein hoffentlich erfreulicher Nebeneffekt der vorgeschlagenen algebraischen Modellierung der Überinvestitionstheorie Hayeks besteht darin, dass dem modernen Ökonomen die Überinvestitionstheorie Hayeks näher gebracht wird, deren theoretischen Gehalt und empirische Fruchtbarkeit er nach Durchsicht dieser Seiten wohl selber beurteilen können wird.

Suggested Citation

  • Quaas, Friedrun & Quaas, Georg, 2015. "Hayeks Überinvestitionstheorie," Working Papers 141, University of Leipzig, Faculty of Economics and Management Science.
    • Handle: RePEc:zbw:leiwps:141
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/121252/1/836315081.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2013. "The macroeconomics of TANSTAAFL," Journal of Macroeconomics, Elsevier, vol. 38(PA), pages 76-85.
    2. Schäfer, Andreas & Schneider, Maik T., 2015. "Endogenous Enforcement Of Intellectual Property, North–South Trade, And Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 19(5), pages 1074-1115, July.
    3. McKinnon, Ronald & Schnabl, Gunther, 2008. "China's exchange rate impasse and the weak U.S. dollar," Working Papers 73, University of Leipzig, Faculty of Economics and Management Science.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Quaas, Friedrun, 2019. "Die New Austrians als Pseudo-Heterodoxe? [The New Austrians as pseudo-heterodoxies?]," MPRA Paper 97470, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gawel, Erik, 2014. "Neuordnung der Professorenbesoldung in Sachsen," Working Papers 128, University of Leipzig, Faculty of Economics and Management Science.
    2. Bernhardt, Wolfgang, 2020. "Der (ost-)deutsche Witz ist tot - Der Volksmund schweigt. Warum? Zum 3. Oktober 2020," Working Papers 168, University of Leipzig, Faculty of Economics and Management Science.
    3. Papenfuß, Ulf & Steinhauer, Lars & Friedländer, Benjamin, 2015. "Beteiligungsberichterstattung der öffentlichen Hand im 13-Länder-Vergleich: Erfordernisse für mehr Transparenz über die Governance und Performance öffentlicher Unternehmen," Working Papers 135, University of Leipzig, Faculty of Economics and Management Science.
    4. Quaas, Friedrun, 2014. "Orthodoxer Mainstream und Heterodoxe Alternativen: Eine Analyse der ökonomischen Wissenschaftslandschaft," Working Papers 129, University of Leipzig, Faculty of Economics and Management Science.
    5. Schnabl Gunther & Müller Sebastian, 2018. "Zur Zukunft der Europäischen Union aus ordnungspolitischer Perspektive," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 68(1), pages 3-34, March.
    6. Quaas, Friedrun & Quaas, Georg, 2016. "Effekte des Kapitalmarktzinses auf die Preis- und Produktivitätsentwicklung: Eine Analyse der deutschen Volkswirtschaft 1970-2014," Working Papers 144, University of Leipzig, Faculty of Economics and Management Science.
    7. Gunther Schnabl, 2015. "Japans Lehren für das Schweizer Wechselkursdilemma," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(3), pages 192-199, March.
    8. Casajus, André & Huettner, Frank, 2013. "Null players, solidarity, and the egalitarian Shapley values," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 58-61.
    9. Casajus, André & Hüttner, Frank, 2012. "Nullifying vs. dummifying players or nullified vs. dummified players: The difference between the equal division value and the equal surplus division value," Working Papers 110, University of Leipzig, Faculty of Economics and Management Science.
    10. Casajus, André, 2012. "The Shapley value without efficiency and additivity," Working Papers 114, University of Leipzig, Faculty of Economics and Management Science.
    11. Quaas, Georg & Köster, Robert, 2012. "Ein Modell für die Wirtschaftszweige der deutschen Volkswirtschaft: Das "MOGBOT" (Model of Germany's Branches of Trade)," Working Papers 106, University of Leipzig, Faculty of Economics and Management Science.
    12. Andreas Schäfer & Thomas Steger, 2014. "Journey into the Unknown? Economic Consequences of Factor Market Integration under Increasing Returns to Scale," Review of International Economics, Wiley Blackwell, vol. 22(4), pages 783-807, September.
    13. Trela, Karl, 2014. "Politische Klimaanpassungsentscheidungen in Deutschland - Defizite und Ansatzpunkte für Entscheidungsunterstützungssysteme [Political climate adaptation decisions in Germany - shortcomings and appl," Working Papers 134, University of Leipzig, Faculty of Economics and Management Science.
    14. Schnabl, Gunther, 2017. "Ultra-lockere Geldpolitiken, Finanzmarktblasen und marktwirtschaftliche Ordnung," Working Papers 151, University of Leipzig, Faculty of Economics and Management Science.
    15. Behnert, Marika & Bruckner, Thomas, 2018. "Cost effects of energy system stability and flexibility options: An integrated optimal power flow modeling approach," Working Papers 155, University of Leipzig, Faculty of Economics and Management Science.
    16. Trela, Karl, 2014. "Klimaanpassung als wirtschaftspolitisches Handlungsfeld," Working Papers 131, University of Leipzig, Faculty of Economics and Management Science.
    17. Casajus, André, 2012. "Solidarity and fair taxation in TU games," Working Papers 111, University of Leipzig, Faculty of Economics and Management Science.
    18. Papenfuß, Ulf (Ed.) & Redlich, Matthias (Ed.) & Steinhauer, Lars (Ed.) & Friedländer, Benjamin (Ed.), 2015. "Forschend und engagiert lernen im Public Management: Befunde und Gestaltungsanregungen eines Service Learning Lehrforschungsprojektes (2. aktualisierte Auflage)," Working Papers 140, University of Leipzig, Faculty of Economics and Management Science.
    19. Papenfuß, Ulf & Schmidt, Christian, 2015. "Determinants of manager pay in German state-owned enterprises and international public policy implications: 3-year study for sectors, performance and gender," Working Papers 137, University of Leipzig, Faculty of Economics and Management Science.
    20. Schnabl, Gunther, 2015. "Wege zu einer stabilitäts- und wachstumsorientierten Geldpolitik aus österreichischer Perspektive," Working Papers 139, University of Leipzig, Faculty of Economics and Management Science.

    More about this item

    Keywords

    Österreichische Schule der Nationalökonomie; Überinvestitionstheorie; Austrian Business Cycle Theory; Hayek'sches Dreieck; Sparen; Zwangssparen; Konjunkturtheorie; Krisentheorie; Hayek; Mises; Sraffa;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • E14 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Austrian; Evolutionary; Institutional

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:leiwps:141. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/vileide.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.