This study reviews insights and reflectionsoriginating from the recently developed concept of self-organized criticality(SOC), which is based on the idea that complex behavior can developspontaneously in various many-body systems whose dynamics may vary abruptly andunexpectedly. First, some...

We study the behaviour: of the average aggregate growth rate of an economy, driven by only small idiosyncratic total factor productivity shocks and where investment behaviour at the single plant level follows an (S,s) policy. We assume that in the case of investment (disinvestment) there are...

We propose a simple model where large innovation waves arise from the endogenous propagation of information around sectors. Innovators of each sector invest in internal R&D and in local search for information. We show that depending on the structural parameters of the single sectors, some of the...