Related papers: Money Growth and Inflation: A Quantile Sensitivity…
This article introduces a novel dynamic framework to Bayesian model averaging for time-varying parameter quantile regressions. By employing sequential Markov chain Monte Carlo, we combine empirical estimates derived from dynamically chosen…
We comment on recently proposed dissipative inflationary models. It is shown that the strength of the inflationary expansion is related to a specific combination of thermodynamic variables which is known to measure the instability of…
This paper studies the role of banks' money creation in monetary transmission. I develop a monetary-search model where demand for the monetary base and the money multiplier are endogenously determined through banks' money creation. The…
This paper investigates how dispersion in banks' subjective inflation forecasts is a channel of the transmission of monetary policy to credit supply. We extend the Monti-Klein model of monopolistic banking by incorporating risk aversion,…
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 develop a technique to construct analytical solutions of the linear perturbations of inflation with a nonlinear dispersion relation, due to quantum effects of the early universe. Error bounds are given and studied in detail. The…
Anomalies in recent observational data indicate that there might be some "anisotropic hair" generated in an inflation period. To obtain general information about the effects of this anisotropic hair to inflation models, we studied…
A unified approach to quintessence and inflation is investigated with the use of a single scalar field. It is argued that successful potentials have to approximate a combination of exponential and inverse power-law decline in the limit of…
We propose a novel, succinct, and effective approach for distribution prediction to quantify uncertainty in machine learning. It incorporates adaptively flexible distribution prediction of $\mathbb{P}(\mathbf{y}|\mathbf{X}=x)$ in regression…
This research studies the relation between money and prices and its practical implications analyzing quarterly data from United States (1959-2022), Canada (1961-2022), United Kingdom (1986-2022), and Brazil (1996-2022). The historical,…
Although the paradigm of inflation has been extensively studied to demonstrate how macroscopic inhomogeneities in our universe originate from quantum fluctuations, most of the established literature ignores the crucial role that…
Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of…
Motivated by machine learning, we introduce a novel method for randomly generating inflationary potentials. Namely, we treat the Taylor coefficients of the potential as weights in a single-layer neural network and use gradient ascent to…
Several studies have focused on the Realized Range Volatility, an estimator of the quadratic variation of financial prices, taking into account the impact of microstructure noise and jumps. However, none has considered direct modeling and…
The Taylor expansion method has been used to investigate the scale dependence of the power spectrum of the curvature perturbation. In the present study, an alternative numerical method is used to clarify the $k$ dependence. Although there…
The increased availability of massive data sets provides a unique opportunity to discover subtle patterns in their distributions, but also imposes overwhelming computational challenges. To fully utilize the information contained in big…
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…
Rigorous guarantees about the performance of predictive algorithms are necessary in order to ensure their responsible use. Previous work has largely focused on bounding the expected loss of a predictor, but this is not sufficient in many…
In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to…
This papers aims to establish the empirical relationship between income, net wealth and their joint distribution in a selected group of euro area countries. I estimate measures of dependence between income and net wealth using a…