在凯恩斯主义占主导地位的年代,奥地利学派在宏观经济领域的理论贡献一直被经济学家忽视。20世纪90年代以来,以加里森和霍维茨为代表的新奥地利学派经济学家,在早期奥地利学派资本结构理论、商业周期理论的基础上对宏观经济理论进行了重构。加里森综合了资本的时际结构、可贷资金市场以及生产可能性边界的分析,建立了一个“以资本为基础”的宏观经济分析框架;霍维茨则把货币非均衡视角以及货币非均衡引发的市场过程纳入到加里森的分析框架中,从而为以资本为基础的奥地利宏观经济学建立了更扎实的微观基础。 In the age of Keynesian domination, the contribution of the Austrians to macroeconomics has been ignored by economists. Since the 1990s, Neo-Austrian economists represented by Garrison and Horwitz have reconstructed the macroeconomic theory on the basis of the early Austrian school capital structure theory and business cycle theory. Garrison synthesized an analysis of the inter-temporal structure of capital, the market for loanable funds, and the boundaries of production possibilities, establishing a “capital-based” macroeconomic analysis framework. Horwitz put the unbalanced perspective of money and the currency The unbalanced market process is integrated into Garrison’s analytical framework, which establishes a more solid micro-foundation for the capital-based Austrian macroeconomics.