Abstract
Since the 1930s, there have been few attempts to recast long wave theory and address the problems raised by Schumpeter's and Kuznets' models; most work has been empirical. This paper uses an inter-industrial analytical framework to explain stagnation, downswing and recovery. The proposed rationale enables us to dispense with Schumpeter's hypothesis of periodic bunching of radical innovations.
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DeBresson, C. Technological innovation and long wave theory: Two pieces of the puzzle. J Evol Econ 1, 241–272 (1991). https://doi.org/10.1007/BF01236493
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DOI: https://doi.org/10.1007/BF01236493