We evaluate the Friedman rule for optimal monetary policy in a laboratory economy based on Lagos–Wright (Journal of Economic Theory 145 (2010), 1508–24). explore two implementations Friedman's rule: one involving deflationary and another where interest is paid money. compare welfare consequences with other policies: constant money supply regime grows at k%. Counter to theory, we find that not w...

In this paper we answer a question of Friedman, providing an !-separable model M of the-calculus. There therefore exists an-separable model for any 0. The model M permits no non-trivial enrichment as a partial order; neither does it permit an enrichment as a category with an initial object. The open term model embeds in M: by way of contrast we provide a model which cannot embed in any non-triv...

Compactification and symmetry breaking events in theories of heterotic superstrings implicitly indicate five inflation events. Scales of 10 ly and larger are modeled in terms of these events. The proposed model accounts qualitatively for recent observations (of galactic clusters that lie on ”thin,.. semispherical shells”) and motivates a calculation that accounts (approximately) for the observe...