Abstract
The intuition that business cycles and long svings were closely linked was one of the strong ideas of Schumpeter’s theory of economic development based on the rôle of entrepreneurs as the agents of innovation. As soon as N.D.Kondratief began to write on long cycles, he noticed that during the expansionnary phase of long waves, years of prosperity are more numerous, whereas during the downswing, years of depression are predominant. In the same article, he noticed several other empirical regularities, some of which played an important rôle in later long-wave literature1. But until the works of D.M.Gordon, T.E.Weisskopf and S.Bowles [4, 5], the relationship between the business cycle and the long swings had not been hypothesized out of technological explanations. This work is an attempt to verify empirically the existence of this relationship.
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Grangeas, G. (1989). Cyclical Behaviour of the Cost of Labour and Long Waves. In: Di Matteo, M., Goodwin, R.M., Vercelli, A. (eds) Technological and Social Factors in Long Term Fluctuations. Lecture Notes in Economics and Mathematical Systems, vol 321. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-48360-8_13
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DOI: https://doi.org/10.1007/978-3-642-48360-8_13
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