On the Low Degree of Entropy Implied by the Solutions of Modern Macroeconomic Models
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DOI: 10.3390/e24121728
Abstract: The non-causal (“forward-looking”) solution used routinely in academic macroeconomics may represent a violation of a law of entropy, namely that the direction of time is one way (from the past and towards the present), and… read more here.
Keywords: degree entropy; entropy; entropy implied; implied solutions ... See more keywords