Abstract

The purpose of this study is to discuss the relationship between change speeds of economic variables and time scales in economic dynamics in the light of nonlinear theory. Firstly, it is argued that economic variables have different change speeds in different societies. Secondly, the significance of time scales in dynamic economic analysis is emphasized. Thirdly, the relationship between change speeds and time scales in dynamic analysis is examined. Fourthly, it is shown that it is possible to classify the traditional economic theories according to the relationship between change speeds and time scales. Finally, the study is concluded.

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