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Journal des Économistes et des Études Humaines

Editor-in-Chief: Garello, Pierre

Ed. by Gentier, Antoine

SCImago Journal Rank (SJR) 2017: 0.101

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Volume 19, Issue 1


Volume 17 (2011)

Volume 16 (2010)

Volume 15 (2009)

The Explanation of the Subprime Crisis According to the Austrian School: A Defense and Illustration

Renaud Fillieule
Published Online: 2013-06-12 | DOI: https://doi.org/10.1515/jeeh-2012-0006


This paper aims, first of all, at showing that there is a very close correspondence between the series of events of the subprime cycle and the typical process described by the Austrian business cycle theory. It then answers to some of the main criticisms directed against the Austrian explanation of this crisis. It shows, finally, how major aspects of this cycle – housing bubble, governmental policies of credit and housing, financial innovations – can be integrated to or deduced from the Austrian explanatory framework.

Keywords: business cycle; subprime crisis; Austrian School of Economics


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About the article

Published Online: 2013-06-12

Citation Information: Journal des ?conomistes et des ?tudes Humaines, Volume 19, Issue 1, Pages 101–136, ISSN (Online) 2153-1552, ISSN (Print) 2194-5799, DOI: https://doi.org/10.1515/jeeh-2012-0006.

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