Minsky moment

Coined by Paul McCulley in 1998, named after economist Hyman Minsky (1919–1996).

Minsky moment (plural Minsky moments)

1. A sudden, major collapse of asset values which marks the end of the growth phase of a cycle in credit markets or business activity.
   • 2015, Louis-Philippe Rochon, Sergio Rossi, editors, The Encyclopedia of Central Banking, Edward Elgar Publishing, →ISBN, page 317:

     Notice, however, that some economists argued that the US subprime crisis was not a “Minsky moment” (see Davidson, 2008).

• Minsky moment on Wikipedia.Wikipedia