The Hodrick-Prescott filter is often used to isolate these phenomena from data.
The Hodrick-Prescott filter is often used to isolate these phenomena from data.The Kiyotaki-Mooremodel shows how credit restriction can affect these phenomena, while the "real" theory of these sees themas due entirely to exogenous changes, mostly technological shocks. Nikolai Kondratiev studied particularlylong versions of them. Stanley Jevons suggested these might be due to sunspots, as both last for abouteleven years. The increasing magnitude of these will increase the proletarian population until revolution isinevitable, according to Karl Marx, who referred to the "boom and bust" of these phenomena. For 10points, name these fluctuations of GDP whose troughs can be recessions.
The Hodrick-Prescott filter is often used to isolate these phenomena from data.
business cycles