Seminario del 2017

2017
21 marzo
J. Barkley Rosser, Jr. - James Madison University
Seminario interdisciplinare
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.

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