business cycle expansion

I think we're in a long business cycle expansion.

"In August - for the first time in the six and a half years of this business cycle expansion - car prices dropped.

"US Business Cycle Expansions and Contractions."

For a list of recent contractions (recessions) and expansions see US Business Cycle Expansions and Contractions.

That puzzle can loosely be paraphrased as follows: "what modification to the DMP framework is needed to put it in line with the empirical evidence that employment rises sharply during a business cycle expansion?"