Packet D: Tossup 7

Misleading causation in data about these phenomena in Latvia inspired a Simon Wren-Lewis thought experiment concerning half of the economy. These phenomena are the subject of the plucking model, which opposes the natural rate view of them. (-5[1])A theory about these phenomena popularized (-5[1])a tool that (10[1])removes a component of a time series (10[1])called an HP filter. (10[3])Technology (10[1])drives (10[1])the (10[1])longest (10[1])of these phenomena (10[1])called (10[1])Kondratiev waves, (10[4]-5[1])according to a (10[2])typology (10[2])of them (10[2])by Joseph (10[1])Schumpeter. (10[4]-5[2])General equilibrium (10[1])analysis was applied to these phenomena (10[1])by Kydland and Prescott, (10[1])who suggested they are not (10[1])a result (10[1])of nominal, supply-side shocks in (10[1])their (10[1])“real” (10[1])theory of them. (10[5])For 10 points, (10[1])name these phenomena (10[1])in macroeconomics (10[2])that consist of periodic (10[1])booms (10[1])and (10[1])recessions. (10[3])■END■ (10[17]0[7])

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