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Long Waves: Conceptual, Empirical and Modelling Issues

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  • Silverberg, Gerald

    (MERIT)

Abstract

The theory of long waves is exceptionally fortunate in that, while there is no general consensus that they exist or, assuming that they do, what an appropriate theory should be, due to the unstinting efforts of several researchers, we have encyclopaedic compendia of the literature (Freeman 1996, Reijnders and Louçã 1999) and a recent valiant attempt to write modern economic history from a long-wave perspective (Freeman and Louçã 2001). The purpose of this entry is to succinctly review the controversy about what long waves might mean as a phenomenon, how they might be measured and modelled, and where they might fit into an overarching theory of economic dynamics and evolution.

Suggested Citation

  • Silverberg, Gerald, 2003. "Long Waves: Conceptual, Empirical and Modelling Issues," Research Memorandum 015, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  • Handle: RePEc:unm:umamer:2003015
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    Cited by:

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    2. Konstantakis, Konstantinos N. & Michaelides, Panayotis G., 2017. "Does technology cause business cycles in the USA? A Schumpeter-inspired approach," Structural Change and Economic Dynamics, Elsevier, vol. 43(C), pages 15-26, December.
    3. Silverberg, Gerald, 2005. "When is a Wave a Wave? Long Waves as Empirical and Theoretical Constructs from a Complex Systems Perspective," Research Memorandum 014, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    4. Fusari, Angelo & Reati, Angelo, 2013. "Endogenizing technical change: Uncertainty, profits, entrepreneurship. A long-term view of sectoral dynamics," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 76-100.

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