Electromagnetic (radio, visible-light, UV, EUV, x-ray and gamma-ray) emission generated by solar and stellar flares often contains pronounced quasi-periodic pulsations (QPPs). Physical mechanisms responsible for the generation of long-period QPP (with periods longer than 1 s) are likely to be associated with MHD processes. The observed modulation depths, periods and anharmonicity of QPP suggest that they can be linked with some kind of MHD auto-oscillations, e.g. an oscillatory regime of magnetic reconnection. Such regimes, of both spontaneous and induced nature, have been observed in resistive-MHD numerical simulations. The oscillations are essentially nonlinear and non-stationary. We demonstrate that a promising novel method for their analysis is the empirical mode decomposition technique.