Stocastic ?
No never
This is a proxy at best
A proxy for a deterministic system of great complexity
So what about it ?
Well in the absence of a random shock generator
To account for the flux
We explore endogenous episodes
And extraordinary interactions
Ie a historical process with "perfect storms" on occasion
And yet there's more
Because the system has its amplifiers and dampeners
Minsky credit bust moments fisher debt jacket spirals
Bank runs rational asset bubbles and the like
All episodic all determined micro nominally
---- like the tumble of dice ----
but " built in " NOT shocks
