Related papers: Inflation targeting strategy and its credibility
With present and future observations becoming of higher and higher quality, it is timely and necessary to investigate the most significant theoretical uncertainties in the predictions of inflation. We show that our ignorance of the entire…
The basic workings of inflationary models are summarized, along with the arguments that strongly suggest that our universe is the product of inflation. I describe the quantum origin of density perturbations, giving a heuristic derivation of…
We introduce the concept of inflation word entropy for random substitutions with a constant and primitive substitution matrix. Previous calculations of the topological entropy of such systems implicitly used this concept and established…
Motivated by the modified gravity theories $F(R)\neq R$ and inflationary physics, we first propose and investigate an inflation model in a scaled gravity $F(R)=R\,+\beta R$, where $\beta $ is a dimensionless scaling parameter. The latter is…
We propose a new approach to investigate inflation in a model-independent way, and in particular to elaborate the involved observables, through the introduction of the "scale factor potential". Through its use one can immediately determine…
This paper studies the optimal investment problem with random endowment in an inventory-based price impact model with competitive market makers. Our goal is to analyze how price impact affects optimal policies, as well as both pricing rules…
The model of Natural Inflation is examined in light of recent 3-year data from the Wilkinson Microwave Anisotropy Probe and shown to provide a good fit. The inflaton potential is naturally flat due to shift symmetries, and in the simplest…
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…
The article presents modeling of inflationary scenarios for the first time in the $f(R,T)$ theory of gravity. We assume the $f(R,T)$ functional from to be $R + \eta T$, where $R$ denotes the Ricci scalar, $T$ the trace of the…
While inflation gives an appealing explanation of observed cosmological data, there are a wide range of different inflation models, providing differing predictions for the initial perturbations. Typically models are motivated either by…
$F(R)$ Palatini gravity provides a robust framework for constructing viable inflationary potentials. In this study, we examine natural inflation and show that its consistency with observational data can be restored when the model is…
In the late 90's, after severe financial and economic crisis, accompanied by inflation and exchange rate instability, Eastern Europe emerged into two groups of countries with radically contrasting monetary regimes (Currency Boards and…
We present a financial market model, characterized by self-organized criticality, that is able to generate endogenously a realistic price dynamics and to reproduce well-known stylized facts. We consider a community of heterogeneous traders,…
Inflation is the currently accepted paradigm for the beginnings of the Universe. To explain the observed almost scale invariant spectrum of density perturbations with only a slight spectral tilt, inflation must have been "slow roll", that…
We analyse four consecutive cycles observed in the USA for employment and inflation. They are driven by three oil price shocks and an intended interest rate shock. Non-linear coupling between the rate equations for consumer products as prey…
In our model, private actors with interbank cash flows similar to, but nore general than (Carmona, Fouque, Sun, 2013) borrow from the outside economy at a certain interest rate, controlled by the central bank, and invest in risky assets.…
At the end of the inflationary stage of the early universe, profuse particle production leads to the reheating of the universe. Such explosive particle production is due to parametric amplification of quantum fluctuations for the unbroken…
We consider the relationship between economic activity and intervention, including monetary and fiscal policy, using a universal dynamic framework. Central bank policies are designed for growth without excess inflation. However,…
We have proposed recently a framework for inflation driven by supersymmetry breaking with the inflaton being a superpartner of the goldstino, that avoids the main problems of supergravity inflation, allowing for: naturally small slow-roll…
We study hedging and pricing of unattainable contingent claims in a non-Markovian regime-switching financial model. Our financial market consists of a bank account and a risky asset whose dynamics are driven by a Brownian motion and a…