IDEAS home Printed from https://ideas.repec.org/a/cup/macdyn/v24y2020i1p7-23_2.html
   My bibliography  Save this article

The Minsky Moment As The Revenge Of Entropy

Author

Listed:
  • Rosser, J. Barkley

Abstract

Considering macroeconomies as systems subject to stochastic forms of entropic equilibria, we shall consider how deviations driven by positive feedbacks as in a speculative bubble can drive such an economy into an anti-entropic state that can suddenly collapse back into an entropic state, with such a collapse taking the form of a Minsky moment. This can manifest itself as shifts in the boundary between the portion of the income distribution that is best modeled as Boltzmann–Gibbs and that best modeled as a Paretian power law.

Suggested Citation

  • Rosser, J. Barkley, 2020. "The Minsky Moment As The Revenge Of Entropy," Macroeconomic Dynamics, Cambridge University Press, vol. 24(1), pages 7-23, January.
  • Handle: RePEc:cup:macdyn:v:24:y:2020:i:1:p:7-23_2
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1365100518000421/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:macdyn:v:24:y:2020:i:1:p:7-23_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/mdy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.