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The Long Wave Revisited

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  • Thomas W Synnott

Abstract

A key question for businesses and investors is whether the low inflation and low long-term interest rates we are now experiencing are a business cycle or a longer-term phenomenon. This paper updates and expands my earlier study on long waves [Synnott 1995]. Using this analytical perspective, I conclude that it is likely that high-grade, long-term bond yields will remain low, especially in real terms, for several years. Low long-term real interest rates for an extended period give the United States a major opportunity for investment and growth, as in previous long-term cycles, provided that appropriate government policies and plans are in place.

Suggested Citation

  • Thomas W Synnott, 2012. "The Long Wave Revisited," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 47(2), pages 119-125, April.
  • Handle: RePEc:pal:buseco:v:47:y:2012:i:2:p:119-125
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