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This paper develops a new generation of the Keynesian Intertemporal Synthesis (KIS) Model, a macroeconomic framework designed to reconcile the empirical strengths of the Post-Keynesian (PK) and New Keynesian (NK) traditions. The central…
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…
In this paper we study the dynamics and ergodic theory of certain economic models which are implicitly defined. We consider 1-dimensional and 2-dimensional overlapping generations models, a cash-in-advance model, heterogeneous markets and a…
We consider an independently identically distributed random dynamical system generated by finitely many, non-uniformly expanding Markov interval maps with a finite number of branches. Assuming a topologically mixing condition and the…
In the present study the interaction of a sine-Gordon kink with a localized inhomogeneity is considered. In the absence of dissipation, the inhomogeneity considered is found to impose a potential energy barrier. The motion of the kink for…
We consider piecewise linear discrete time macroeconomic models, which possess a continuum of equilibrium states. These systems are obtained by replacing rational inflation expectations with a boundedly rational, and genuinely sticky,…
We construct continuous-time equilibrium models based on a finite number of exponential utility investors. The investors' income rates as well as the stock's dividend rate are governed by discontinuous Levy processes. Our main result…
We consider a nonlinear coupled discrete-time model of population dynamics. This model describes the movement of populations within a heterogeneous landscape, where the growth of subpopulations are modelled by (possibly different) bounded…
Starting from a non-local version of the Prigogine-Herman traffic model, we derive a natural hierarchy of kinetic discrete velocity models for traffic flow consisting of systems of quasi-linear hyperbolic equations with relaxation terms.…
In this work, we explore the prospect of generalizing the constant-roll condition in canonical inflationary model to non-canonical models. To find a natural generalization, we focus on three manifestations of this condition and construct…
We theoretically study the non-Markovian dynamics of qubit systems coupled to nonequilibrium environments with nonstationary and non-Markovian statistical properties. The reduced density matrix of the single qubit system satisfies a closed…
We formulate a general, high-dimensional kinetic theory describing the internal state (such as gene expression or protein levels) of cells in a stochastically evolving population. The resolution of our kinetic theory also allows one to…
For the reduced two-dimensional Belousov-Zhabotinsky slow-fast differential system, the known results are the existence of one limit cycle and its stability for particular values of the parameters. Here, we characterize all dynamics of this…
Three traits of decentralized finance are studied. First, the market impact function is derived for optimal-growth liquidity providers. For a standard random walk, the classic square-root impact is recovered. An extension is then derived to…
We study risk-sharing equilibria with general convex costs on the agents' trading rates. For an infinite-horizon model with linear state dynamics and exogenous volatilities, we prove that the equilibrium returns mean-revert around their…
In this paper we investigate the induced inflation with two flat regions: one Starobinsky-like plateau in big field regime and one shorter plateau around the saddle point of the Einstein frame potential. This multi-phase inflationary…
We propose a new approach called Ket-Bra Entangled State (KBES) Method for converting master equation into Schr\"{o}dinger-like equation. With this method, we investigate decoherence process and entanglement dynamics induced by a $2$-qubit…
In this paper we present an exact study of the relaxation dynamics of the backgammon model. This is a model of a gas of particles in a discrete space which presents glassy phenomena as a result of {\it entropy barriers} in configuration…
A dynamical analysis is presented that self-consistently takes into account the motion of the critical layer, in which the magnetic field reconnects, to describe how the m=n=1 resistive internal kink mode develops in the nonlinear regime.…
In this paper we use a dynamic programming approach to analytically solve an endogenous growth model with internal habits where the key parameters describing their formation, namely the intensity, persistence and lag structure (or memory),…