“Standing-on-Shoulder and Fishing-out Synergies: A Model for Endogenous Long-Waves” (Co-author” Ε. Ozouni). THEORETICAL ECONOMICS LETTERS, Vol.7 No.7, December 2017.
06/2014 – 13th Annual Conference of European Economics and Finance Society – EEFS, Thessaloniki
Previous versions of the paper:
07/2011 – EcoMod2011 , Economic Modeling Network
04/2009 – European Society for the History of Economic Thought (ESHET) – Thessaloniki
Abstract Standard growth theory considers a constant, endogenously defined rate of technological change that generates a log-linear evolution of economic activity. Yet, the persistent current phase of worldwide slowdown triggers the awakening of “long waves” theories. In the present paper, starting from a dynamically evolving synergy of Romer’s “fishing out” and “standing on shoulders” effects, we end up having three mechanisms that provoke a cyclical evolution of applied ideas: a direct impact through applied research’s productivity; an effect through researcher’s effort allocation; and an effect through the allocation of labour force. Putting these together, we initiate long waves of per capita (p.c.) output.
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