Closed string tachyon condensation in spacetime generates potentials on the worldsheet that model two-dimensional inflationary cosmology. These models illustrate and elucidate a variety of aspects of inflation, in particular the generation of quantum fluctuations and their back-reaction on geometry. We exhibit a class of Liouville gravity models coupled to matter that can exhibit, for example: ...

Inflation targeting has become the predominant monetary approach across the globe. In this paper, we examine the inflation targeting experience in developing countries. We estimate the effects of inflation targeting on macroeconomic performance in these economies. The approach is based on the methodology applied by Pétursson (2005) which uses panel data to assess the effects of inflation target...

This study is about the earnings-replacement rate of the old-age benefit for the average worker in manufacturing who had average earnings throughout his career. It updates previously published data for earlier years and compares the replacement rate of the combined social security and private pension benefits for selected countries, in an attempt to show what a more complete benefit package mig...

Context. Massive stars play a vital role in the Universe, however, their evolution even on the main-sequence is not yet well understood. Aims. Because of the steep mass-luminosity relation, massive main-sequence stars become extremely luminous. This brings their envelopes very close to the Eddington limit. We analyse stellar evolutionary models in which the Eddington limit is reached and exceed...

The U.S. economy is continually buffeted by disturbances originating both within and outside our borders. To assess the influence of such events on employment, inflation, and other measures of macroeconomic performance, economists often use models of the economy—systems of mathematical equations describing the interactions among various measures of activity in the markets for labor, goods, and ...

Describing the nature of the trade-off between inflation and output or unemployment has long been difficult and controversial. The Friedman-Phelps hypothesis, that there is no long-run Phillips curve trade-off between inflation and unemployment, has clearly won over most macro-. economists, but the debate has continued over what, if any, trade-off remains. The subtle notion that an uncertain sh...

Despite the fact that, banks can withstand the effects of inflation in the short run, since banking system mostly operates with reference to interest rate and maturity of financial instruments with less concern about the purchasing power of money. However, the banking system cannot absorb the shocks in the long run. The objective of this paper is to conceptually expose the effect of inflation o...

Data for around 100 countries from 1960 to 1990 are used to assess the effects of inflation on economic performance. If a number of country characteristics are held constant, then regression results indicate that the impact effects from an increase in average inflation by 10 percentage points per year are a reduction of the growth rate of real per capita GDP by 0.2-0.3 percentage points per yea...

Because inflation targeting is a relatively recent phenomena, in the past we have had insufficient data to conduct time-series econometric work to evaluate this important new monetary policy strategy. However, now that inflation targeting has been around for close to ten years, we are able to do some preliminary econometric work on this topic. This is exactly what Neumann and von Hagen do in th...

We adopt a simple Present Value (PV) methodology to investigate the interaction between interest rates, inflation and taxation on the fundamental value of residential real estate for a rational investor with varying degrees of risk-aversion. This approach allows the calculation of the fair present value of residential real estate from only a small number of macro-economic variables, and avoids ...