The Austrian theory, however, is not a complete theory of the business cycle. It accounts mainly for the process leading to and including the cycle’s upper turning point. It is a theory of the crisis. How long the resulting recession lasts is not predicted by the theory or even, strictly speaking, by the degree to which resources were misallocated. The length of the recession will depend, for example, on those factors affecting the mobility of resources.
Rizzo, Mario J., 2009. “Austrian economics: recent work” The New Palgrave Dictionary of Economics, Online Edition