Volume 5, No. 2 (Summer 2002)
Empirical analysis and interpretation of employment and interest data based on the Hayekian triangle have proved highly fruitful in revealing new information about the structure of U.S. production. Statistical inference has demonstrated the Hayekian triangle’s strong explanatory power. Demonstration of stable, long-run equilibrium relationships among sectoral employment rates and interest rates indicate the data used are amenable to this kind of analysis.
