Joseph Schumpeter created a typology of these occurrences, which Keynesians seek to contain using fiscal policy.
To study these phenomena, two economists popularized the HP filter for time series. In some models of these phenomena, their propagation mechanism is "time-to-build" lags in investment. Kydland and Prescott won the Nobel for applying general equilibrium analysis to these phenomena in their "real" theory of them. Hyman Minsky's (*) financial instability hypothesis was a model for their generation. Technology changes drive long-lasting phenomena of this type called Kondratiev waves. Joseph Schumpeter created a typology of these occurrences, which Keynesians seek to contain using fiscal policy. For 10 points, name these periodic fluctuations in economic activity.
To study these phenomena, two economists popularized the HP filter for time series.
business cycles [or boom-bust cycles]