Have economists from time to time hypothesized the existence of at least three other economic cycles?

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While the chronology of business cycles produced by the National Bureau of Economic Research (NBER) (Table 1) is widely accepted, different definitions of the term "contraction" could easily combine or subdivide particular cycles. Indeed, the NBER does not adhere strictly to the definition of a recession as two successive quarters of GDP decline. Instead, a committee determines, by looking at movements in variables, when turning points have occurred. Some scholars have criticized this committee's decisions.