Related papers: Inflation and speculation in a dynamic macroeconom…
Keen's model describes the dynamics between wage share, employment rate and debt ratio. In literature, the model was extended to represent the effects of inflation and also the speculative money flow. Based on the inflationary model, we…
The Keen model is a mathematical model that describes the dynamic evolution of wages, employment, and debt based on the known Minsky's Financial Instability Hypothesis. It consists of three first order nonlinear ordinary differential…
We develop a stochastic macro-financial model in continuous time by integrating two specifications of the Keen economic framework with a financial market driven by a jump-diffusion process. The economic block of the model combines monetary…
We review the theory of inflation with single and multiple fields paying particular attention to the dynamics of adiabatic and entropy/isocurvature perturbations which provide the primary means of testing inflationary models. We review the…
We propose a class of inflation models in which the coefficient of the inflaton kinetic term rapidly changes with energy scale. This may occur especially if the inflaton moves over a long distance during inflation as in the case of…
A new family of inflationary models is introduced and analysed. The behaviour of the parameters characterising the models suggest preferred values, which generate the most interesting testable predictions. Results are further improved if…
We propose a continuous-time stock-flow consistent model for inventory dynamics in an economy with firms, banks, and households. On the supply side, firms decide on production based on adaptive expectations for sales demand and a desired…
We present a set of models of the main stylized facts of market price fluctuations. These models comprise dynamical evolution with threshold dynamics and Langevin price equation with multiplicative noise, percolation models to describe the…
Kinetic exchange models have been successful in explaining the shape of the income/wealth distribution in the economies. However, such models usually make some ad-hoc assumptions when it comes to determining the savings factor. Here, we…
We propose a novel framework for modeling time-varying persistence in economic time series, allowing for smoothly evolving heterogeneity in shock dynamics. We leverage localized regression techniques to flexibly identify changes in…
We study a class of heterogeneous agent-based models which are based on a basic set of principles, and the most fundamental operations of an economic system: trade and product transformations. A basic guiding principle is scale invariance,…
It is shown that a large class of higher-order (i.e. non-quadratic) scalar kinetic terms can, without the help of potential terms, drive an inflationary evolution starting from rather generic initial conditions. In many models, this…
Our computational economic analysis investigates the relationship between inequality, mobility and the financial accumulation process. Extending the baseline model by Levy et al., we characterise the economic process through stylised return…
We develop a model to price inflation and interest rates derivatives using continuous-time dynamics that have some links with macroeconomic monetary DSGE models equipped with a Taylor rule: in particular, the reaction function of the…
We study the background and perturbations in $k$-essence inflation models and show that a general $k$-essence exhibits a simple scaling property. In particular, we study two classes of $k$-inflation models with the potential characterized…
In this paper we show that the dynamics associated with slow-roll models of inflation can be investigated through a method called deformation procedure. Using the latter, we explicitly derive an expression linking two slow-roll inflationary…
A natural combination of the first and second derivatives of the scalar potential was achieved in a framework of an alternative refined de Sitter conjecture recently proposed in the literature. In this work, we study various inflation…
Do firm dynamics matter for the transmission of monetary policy? Empirically, the startup rate declines following a monetary contraction, while the exit rate increases, both of which reduce aggregate employment. I present a model that…
By using the formulation of the reconstruction, we explicitly construct models of $k$-essence, which unify the inflation in the early universe and the late accelerating expansion of the present universe by a single scalar field. Due to the…
In this paper we consider a general theory of k-inlation and find out, that it may be in strong coupling regime. We derive accurate conditions of classical description validity using unitarity bounds for this model. Next, we choose simple…