Spacetime singularities have been discovered which are physically much weaker than those predicted by the classical singularity theorems. Geodesics evolve through them and they only display infinities in the derivatives of their curvature invariants. So far, these singularities have appeared to require rather exotic and unphysical matter for their occurrence. Here we show that a large class of ...

The essential reason that a 100-percent-reserve gold standard should be the ultimate goal of monetary reform is that it would secure the economic system against the evils both of inflation and of deflation–depression. In addition, it would be consistent with the fundamental moral–political principle of the absence of the initiation of physical force and thus the positive presence of individual ...

We perform a numerical investigation of the fields evolution in the supersymmetric inflationary model based on radiative corrections. Supergravity corrections are also included. We find that, out of all the examined initial data, only about 10% give an adequate amount of inflation and can be considered as ”natural”. Moreover, these successful initial conditions appear scattered and more or less...

Our major conclusions are as follows: (1) If inflation rates remain high, then the yield curve will tend to slope upward more steeply than in the past (or slope downward less steeply when the yield curve is inverted). (2) This yield curve situation will lead firms to shorten the average maturities of their liabilities, even though this will expose them to greater risks of earnings fluctuations ...

The paper extends the literature on financial development, inflation, and growth by using the idea that both the rates of return on physical and human capital affect growth. This leads to the introduction of the investment rate into the model, as a proxy for the return to physical capital, along with the inflation rate as a variable affecting the return to human capital. As a result financial d...

We examine whether the U.S. rate of price inflation has become harder to forecast and, to the extent that it has, what changes in the inflation process have made it so. The main finding is that the univariate inflation process is well described by an unobserved component trend-cycle model with stochastic volatility or, equivalently, an integrated moving average process with time-varying paramet...

The most obvious characteristic of inflation targetting is an explicit numerical inflation target. There is also a logical and efficient decision process, which I have called forecast targetting. The central bank makes forecasts of inflation and other variables, such as the output gap, and then chooses the interest rate so that these forecasts “look good”, that is, are consistent with the objec...

This paper compares the ability of four indicators of underlying or ‘core’ inflation to forecast inflation in the French case. Though most indicators Granger-cause inflation, results from out of sample tests of forecast accuracy are less compelling. The results nevertheless seem to give some empirical support to trimmed mean indicators.  2000 Elsevier Science S.A. All rights reserved.

We calculate power spectra of cosmological perturbations at high accuracy for two classes of inflation models. We classify the models according to the behaviour of the Hubble distance during inflation. Our approximation works if the Hubble distance can be approximated either to be a constant or to grow linearly with cosmic time. Many popular inflationary models can be described in this way, e.g...

The cosmological curvature perturbation may be generated when some ‘curvaton’ field, different from the inflaton, oscillates in a background of unperturbed radiation. In its simplest form the curvaton paradigm requires the Hubble parameter during inflation to be bigger than 10 GeV, but this bound may be evaded if the curvaton field (or an associated tachyon) is strongly coupled to a field which...