Kondratief cycle

long-wave cycle

a theoretical long-term cycle ranging from boom to recession over a period of fifty years or so upon which shorter-term BUSINESS CYCLES are superimposed. Based upon statistical observations by Kondratief, explanations for these long waves in economic activity usually rely upon a ‘bunching’ of significant INNOVATIONS like petrol engines, the motor car, etc., which give an impetus to economic activity for several decades before their impact wanes.

单词	kondratief cycle
释义	Kondratief cycle Kondratief cycle or long-wave cycle a theoretical long-term cycle ranging from boom to recession over a period of fifty years or so upon which shorter-term BUSINESS CYCLES are superimposed. Based upon statistical observations by Kondratief, explanations for these long waves in economic activity usually rely upon a ‘bunching’ of significant INNOVATIONS like petrol engines, the motor car, etc., which give an impetus to economic activity for several decades before their impact wanes.
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