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Contributions to Political Economy Advance Access published online on June 15, 2007
Contributions to Political Economy, doi:10.1093/cpe/bzm017
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© The Author 2007. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved

A METHODOLOGICAL NOTE ON LONG-PERIOD POSITIONS

Fabio D'orlando

Università di Cassino, Italy

This brief paper seeks to overcome a number of methodological disagreements among economists who use the long-period method of analysis. In particular, it attempts to clarify the key distinctions between convergence and stability, convergence and gravitation and chronological and theoretical persistence. The conclusion is that the theoretical soundness of the long-period method depends on the convergence of actual magnitudes towards their long-period counterparts, an empirical issue to which theoretical considerations of stability are irrelevant.


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