Related papers: The independence of Central Banks, a reductio ad i…
The notion that an independent central bank reduces a country's inflation is a controversial hypothesis. To date, it has not been possible to satisfactorily answer this question because the complex macroeconomic structure that gives rise to…
A minimal central bank credibility, with a non-zero probability of not renegning his commitment ("quasi-commitment"), is a necessary condition for anchoring inflation expectations and stabilizing inflation dynamics. By contrast, a complete…
We investigate the consequences of legal rulings on the conduct of monetary policy. Several unconventional monetary policy measures of the European Central Bank have come under scrutiny before national courts and the European Court of…
We prove a central limit theorem with aassumptions which are many weak than classical conditions
We give an overview of some developments in dependence and independence logic. This is a tiny selection, intended for a newcomer, from a rapidly growing literature on the topic. Furthermore, we discuss conditional independence atoms and we…
A recently proposed axiom system for Andr\'e's central translation structures is improved upon. First, one of its axioms turns out to be dependent (derivable from the other axioms). Without this axiom, the axiom system is indeed…
We introduce an atomic formula intuitively saying that given variables are independent from given other variables if a third set of variables is kept constant. We contrast this with dependence logic. We show that our independence atom gives…
A theoretical self-sustainable economic model is established based on the fundamental factors of production, consumption, reservation and reinvestment, where currency is set as a unconditional credit symbol serving as transaction equivalent…
We show that it is extremely difficult and perhaps even impossible to have inflation supported by thermal effects.
This paper introduces the notion of pseudo-independence on the sublinear expectation space $(\Omega,\mathcal{F},\mathcal{P})$ via the classical conditional expectation, and the relations between pseudo-independence and Peng's independence…
We investigate the notion of independence, which is at the basis of many, seemingly unrelated, properties of logic like Rational Monotony in non-monotonic logics, and interpolation theorems.
The nature of monetary arrangements is often discussed without any reference to its detailed construction. We present a graph representation that allows for a clear understanding of modern monetary systems. First, we show that systems based…
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…
Despite its central role in modern cosmology, doubts are often expressed as to whether cosmological inflation is really a falsifiable theory. We distinguish two facets of inflation, one as a theory of initial conditions for the hot big bang…
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…
I argue that the proposition that primordial perturbations were produced by inflation is most definitely falsifyable. Far from ``predicting anything you want'', the Gaussianity and passivity of inflationary perturbations strongly constrain…
In his stimulating article on the reasons for two puzzling observations about the behaviour of interest rates, exchange rates and the rate of inflation, Charles Engel (2016) puts forward an explanation that rests on the concept of a…
In this manuscript we discuss the notion of (statistical) independence embedded in its historical context. We focus in particular on its appearance and role in number theory, concomitantly exploring the intimate connection of independence…
The independence of the continuum hypothesis is a result of broad impact: it settles a basic question regarding the nature of N and R, two of the most familiar mathematical structures; it introduces the method of forcing that has become the…
Abstract argumentation has emerged as a method for non-monotonic reasoning that has gained popularity in the symbolic artificial intelligence community. In the literature, the different approaches to abstract argumentation that were refined…