“I can date my own personal ‘revolution’ rather exactly to May or June 1933. It was like this. It began .. with Hayek." — John Hicks
Can someone direct me to a good Hayekian explanation of the inverted yield curve phenomena:
Click to enlarge. ht Mish.
Paul Cwik wrote his dissertation about this topic.
Thanks Ivo. And it’s available in PDF!
“AN INVESTIGATION OF INVERTED YIELD CURVES AND ECONOMIC DOWNTURNS” by Paul Cwik:
http://mises.org/etexts/cwik-dissertation.pdf
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Reason is merely a discipline, an insight into the limitations of the possibilities of successful action, which often will tell us only what not to do. — F. A. Hayek
Reason is merely a discipline, an insight into the limitations of the possibilities of successful action, which often will tell us only what not to do.
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Paul Cwik wrote his dissertation about this topic.
Thanks Ivo. And it’s available in PDF!
“AN INVESTIGATION OF INVERTED YIELD CURVES AND ECONOMIC DOWNTURNS” by Paul Cwik:
http://mises.org/etexts/cwik-dissertation.pdf