We estimate a New Keynesian DSGE model for the Euro area which allows for alternative descriptions of monetary policy (discretion, commitment, quasi-commitment or a simple rule) after allowing for Markov switching in policy maker preferences and/or shock volatilities. This reveals that there have been several changes in Euro area policy making, with a strengthening of the anti-inflation stance ...

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...

Lower body negative pressure is frequently used to simulate orthostasis. Prior data suggest that venous pooling in abdominal or pelvic regions may have major hemodynamic consequences. Therefore, we developed a simple paradigm for assessing regional contributions to venous pooling during lower body negative pressure. Sixteen healthy men and women underwent graded lower body negative pressure pro...

Continuous control of tracheal tube cuff inflation using a pneumatic device resulted in severe tracheal wall damage in ventilated piglets. This damage was similar in piglets managed with manual control of cuff inflation. The periodic hyperinflation of the tube cuff used in both groups of this study may explain these results. This manoeuvre should be avoided in clinical practice.

We point out that, if quantum field renormalization is taken into account and the counterterms are evaluated at the Hubble-radius crossing time or few e-foldings after it, the predictions of slow-roll inflation for both the scalar and the tensorial power spectrum change significantly. This leads to a change in the consistency condition that relates the tensor-to-scalar amplitude ratio with spec...

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 ...