Related papers: A phase transition in monetary function explains e…
Monetary inflation is a sustained increase in the money supply than can result in price inflation, which is a rise in the general level of prices of goods and services. The objectives of this paper were to develop economic models to (1)…
We show that models of inflection point inflation exhibit a phase transition from a region in parameter space where they are of large field type to a region where they are of small field type. The phase transition is between a universal…
We consider a model of inflation consisting a single fluid with a time-dependent equation of state. In this phenomenological picture, two periods of inflation are separated by an intermediate non-inflationary stage which can be either a…
The original SCR theory proposed that inflation has two distinct expressions: circulation inflation, measured by rising transaction prices, and reservation inflation, measured by the rising real weight of monetary symbols, debt contracts,…
We draw attention to the possibility that inflation (i.e. accelerated expansion) might continue after the end of slow roll, during a period of fast oscillations of the inflaton field \phi . This phenomenon takes place when a mild…
We consider a model of inflation which has recently been proposed in the literature and where inflation is induced by corrections to the energy density coming from the non-commutativity of spacetime. We show that the very rapid inflationary…
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…
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,…
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 explores when the financial market lost the price formation function in prewar Japan in the sense of Fama's (1970) semi-strong form market efficiency using a new dataset. We particularly focus on the relationship between the…
The traditional monetary transmission mechanism usually views the equity markets as the monetary reservoir that absorbs over-issued money, but due to China's unique fiscal and financial system, the real estate sector has become an…
We introduce in this paper a new framework for obtaining a period of exponential inflation that is entirely driven by the quadratic kinetic energy of a scalar field. In contrast to recent attempts to realize scalar field inflation without…
The evolution of two slow--rolling scalar fields with potentials of the form $V=V_0 \phi^{-\alpha}\exp(-\beta \phi^m)$ is studied. Considering different values of the parameters $\alpha$, $\beta$ and $m$, we derive several new inflationary…
The inflationary dynamics and preheating in a model with a non-minimally coupled inflaton field in the metric and Palatini formalisms are studied in this paper. We find that in both formalisms, irrespective of the initial conditions, our…
Preheating after inflation may lead to nonthermal phase transitions with symmetry restoration. These phase transitions may occur even if the total energy density of fluctuations produced during reheating is relatively small as compared with…
The Spanish Price Revolution is usually treated as a classic case in which American bullion inflows expanded the money supply and generated inflation. This view captures the first phase of the episode but fails to explain why the same…
The stability of money value is an important requisite for a functioning economy, yet it critically depends on the actions of participants in the market themselves. Here we model the value of money as a dynamical variable that results from…
Landau theory relates phase transitions to the minimization of the Landau functional (e.g., free energy functional), which is expressed as a power series of the order parameter. It has been shown that the critical behavior of certain…
A new scenario of hybrid-like inflation is considered without using hybrid-type potential. Radiation raised continuously by a dissipating inflaton field keeps symmetry restoration in a remote sector, and the false-vacuum energy of the…
One of the longstanding goals in the framework of inflation is the construction of tools that can be used to classify models in theory space. An idea that has been put forward in this context is to consider the energy dependent scaling…