Quarterly Journal of Austrian Economics
Author:
Adrián Osvaldo Ravier
Online Publish Date:
Volume 16, Number 2; Summer 2013 Don Bellante and Roger W. Garrison (1988) compared two alternative explanations of monetary dynamics: those based on a vertical long-run Phillips curve and those derived from analysis of Hayekian triangles. The authors concluded that the only factor differentiating the two models is the “process” whereby the