While the jubilee year as a year of remission or indulgence goes back to OT and Christian traditions (Jubilee [Catholic]), the jubilee as a solemn and festive commemoration of a historical event at certain long intervals (usually a “round” number of years) was a product of the early modern period and did not become a cultural commonplace until the 19th century.
According to Lev 25:8–31, seven seven-year cycles, each with a sabbath year of rest, are to be follo…