Post-Pandemic Business Cycle in Poland and in the United States in the Light of the Austrian Business Cycle Theory

Abstract

Abstract The purpose of the article is to examine the post-pandemic business cycle in Poland and in the United States in the light of the Austrian business cycle theory. The study shows that this theory satisfactorily explains the post-pandemic business cycle. Moreover, it seems that the Austrian business cycle theory explains some important facts better than competing theories of business cycle. The analysis also indicates that the post-pandemic business cycle differs significantly in many respects from previous business cycles – and that these differences could be explained within the framework of the Austrian business cycle theory.