Kondratiev Waves in the US Economy

Citations Over TimeTop 10% of 2015 papers

Abstract

The aim of the article was to determine the time of occurrence of Kondratiev
 waves in the US economy and the assessment of their power from the moment
 of emergence to up to now. Because of the spectral analysis of deviations from
 the trend of a number of real per capita GDP for the 1790-2010 years in the
 economic dynamics of the US identified Kondratiev waves. The obtained results
 show that the US economy were formed in the second half of the XIX century.
 In the second half of the XX century, during the formation of post-industrial
 economy the power of Kondratiev waves began to decline. The existence of
 Kondratiev waves. during the last half century enables identification of the US
 economy at least three technological structures, including the fourth, fifth and
 sixth order.

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