Related papers: Quantitative easing is an incomplete strategy that…
To the knowledge of the author, this is the first time it has been shown that interest rates that are extremely high by modern standards (100% and higher) are necessary within a zero-sum monetary system, and not just driven by greed.…
Inflationary models, especially those with plateau-type potentials, are consistent with the cosmological data, but inflation itself does not resolve the initial singularity. This singularity is resolved, for example, by the idea of the…
We find a rather unique extension of inflationary scenario which avoids selfreproduction and thus resolves the problems of multiverse, predictability and initial conditions. In this theory the amplitude of the cosmological perturbations is…
Informed by a quantum information perspective, we interpret cosmological expansion of space as growing entanglement between underlying degrees of freedom. In particular, we focus on inflationary cosmology, which, while being a successful…
Inflation is known to be generically eternal to the future: the false vacuum is thermalized in some regions of space, while inflation continues in other regions. Here, we address the question of whether inflation can also be eternal to the…
I will discuss the development of inflationary theory and its present status, as well as some recent attempts to suggest an alternative to inflation. In particular, I will argue that the ekpyrotic scenario in its original form does not…
A multivariate quantile regression model with a factor structure is proposed to study data with many responses of interest. The factor structure is allowed to vary with the quantile levels, which makes our framework more flexible than the…
In this paper we present a path integral formulation of stochastic inflation, in which volume weighting can easily be implemented. With an in-depth study of inflation in a quartic potential, we investigate how the inflaton evolves and how…
During the last two years, Europe has been facing a debt crisis, and Greece has been at its center. In response to the crisis, drastic actions have been taken, including the halving of Greek debt. Policy makers acted because interest rates…
It has been known for some time that the usual inference drawn from the observed near-flatness of the large-scale Universe - namely the existence of a cosmological "flatness problem", which is then taken as a partial, but key motivation for…
The following measures against unemployment are proposed: In the short term, to promote greater income for the poorest sectors. It is shown that this can be paid with the resulting increased production, without losing income to the other…
How does one allocate a collection of resources to a set of strategic agents in a fair and efficient manner without using money? For in many scenarios it is not feasible to use money to compensate agents for otherwise unsatisfactory…
We study financial networks where banks are connected through bilateral liabilities and may default when resources are insufficient to meet obligations. We consider both the standard proportional clearing model and a priority-proportional…
Monetary inflation is a sustained increase in the money supply than can result in price inflation, which is a rise in the general level of prices of goods and services. The objectives of this paper were to develop economic models to (1)…
Debt recycling is a leveraged equity management strategy in which homeowners use accumulated home equity to finance investments, applying the resulting returns to accelerate mortgage repayment. We propose a novel framework to model equity…
Since McCallum (1987), it is well known that in an overlapping generations (OLG) economy with land, the equilibrium is Pareto efficient because with balanced growth, the interest rate exceeds the economic growth rate ($R>G$), which rules…
A mechanism of inflation from higher dimensions compactification is studied. An Early Universe capable of providing exponential growth for some dimensions and exponential contraction for others, giving therefore an explanation for the big…
We offer mathematical tractability and new insights for a framework of exponential utility with non-negative consumption, a constraint often omitted in the literature giving rise to economically unviable solutions. Specifically, using the…
Clustering attempts to partition data instances into several distinctive groups, while the similarities among data belonging to the common partition can be principally reserved. Furthermore, incomplete data frequently occurs in many…
We study a game where households convert paper assets, such as money, into consumption goods, to preempt inflation. The game features a unique equilibrium with high (low) inflation, if money supply is high (low). For intermediate levels of…