Round 10: 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. A theory about these phenomena popularized a tool that removes a component of a time series called an HP filter. (10[1])Technology drives the longest of these phenomena called Kondratiev waves, (10[1])according to a typology of them by Joseph Schumpeter. (10[2])General equilibrium (10[1])analysis was applied to these phenomena by Kydland and Prescott, who suggested they are not a result of nominal, supply-side shocks in their “real” (10[1])theory of them. For 10 points, name these phenomena in macroeconomics (10[1])that consist of periodic booms (10[1])and recessions. ■END■ (0[1])

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