Related papers: A phase transition in monetary function explains e…
We study a system of diffusing-aggregating particles with deposition and evaporation of monomers. By combining theoretical and numerical methods, we establish a clearer understanding of the non-equilibrium phase transition known to occur in…
Financial markets have long since been modeled using stochastic methods such as Brownian motion, and more recently, rough volatility models have been built using fractional Brownian motion. This fractional aspect brings memory into the…
Commercial banks and other depository institutions in some countries are required to hold in reserve against deposits made by their customers at their Central Bank or Federal Reserve. Although some countries have been eliminated it, this…
This paper studies a regression model with functional dependent and explanatory variables, both of which exhibit nonstationary dynamics. The model assumes that the nonstationary stochastic trends of the dependent variable are explained by…
A simplified Ginzburg-Landau theory is presented to study generally a coupling of a first-order phase transition (FOPT) to a second-order phase transition (SOPT). We show analytically that, due to the coupling between the two phase…
We study the evolution of an inflation-generated magnetic field, due to its coupling to fluid motions, during cosmological phase transitions. We find that the magnetic field stays almost unchanged on large scales, while on small scales the…
In this paper, we discuss the inflationary magnetogenesis scenario, in which the coupling function is introduced to break the conformal invariance of electromagnetic action. Unlike in conventional models, we deduce the Maxwell's equations…
This paper investigates how institutional rigidities shape inflation persistence in transition economies, focusing on labor market institutions and exchange rate regimes. Using a large panel of transition countries over the period…
We will show that for exponential type potentials, which are used to depict quintessential inflation, the solutions whose initial conditions take place during the slow roll phase in order to describe correctly the inflationary period do not…
During inflation, spacetime is approximately described by de Sitter space which is conformally invariant with the symmetry group SO(1,4). This symmetry can significantly constrain the quantum perturbations which arise in the inflationary…
The dynamics of a single scalar field which describes a second order phase transition is considered taking into account the thermal effects in the high temperature limit. I conclude that thermal effects play a very important role during…
Empirical evidence suggests that there is little to no correlation between the rate of inflation and the size of price change. Economists have hitherto taken this to mean that monetary shocks do not generate much deviation in relative…
Nonequilibrium phase transitions can be typified in a similar way to equilibrium systems, for instance, by the use of the order parameter. However, this characterization hides the irreversible character of the dynamics as well as its…
We propose a mechanism for generating an inflationary phase in the early universe without resorting to any type of scalar field(s). Instead, this accelerated expansion is driven by a dynamical "cosmological constant" in the framework of…
We consider a phenomenological extension of the minimal supersymmetric standard model (MSSM) which incorporates non-minimal chaotic inflation, driven by a quadratic potential in conjunction with a linear term in the frame function.…
We generalize the effective field theory of single clock inflation to include dissipative effects. Working in unitary gauge we couple a set of composite operators in the effective action which is constrained solely by invariance under…
Personal income distributions in Japan are analyzed empirically and a simple stochastic model of the income process is proposed. Based on empirical facts, we propose a minimal two-factor model. Our model of personal income consists of an…
We investigate the rich nonlinear dynamics during the end of hilltop inflation by numerically solving the coupled Klein-Gordon-Friedmann equations in a expanding universe. In particular, we search for coherent, nonperturbative…
Do governments adjust budgetary policy to rising public debt, precluding fiscal unsustainability? Using budget data for 52 industrial and emerging economies since 1990, we apply panel methods accounting for cross-sectional dependence and…
We show that inflation with a quadratic potential occurs naturally in theories where an axion-like field mixes with a 4-form. Such an axion is massive, with the mass which arises from the mixing being protected by the axion shift symmetry.…