Abstract
The paper reviews the characteristic features of the main economic
cycles and discusses the behavioral foundation for each mode at
the microlevel. The analysis continues to illustrate some of the
nonlinear dynamic phenomena that can arise through interaction
between the various modes and through coupling between the
different sectors of the economy. Particular emphasis is given to
illustrate the existence of extended disequilibrium periods in the
various markets.
Original language | English |
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Title of host publication | Lecture Notes in Economics and Mathematical Systems |
Place of Publication | Berlin |
Publisher | Springer |
Publication date | 1997 |
Pages | 29-49 |
Publication status | Published - 1997 |