A THEORY OF THE CORRUPT KEYNESIAN

AbstractWe evaluate the impact of real business cycle shocks on corruption and economic policy in a model of entry regulation in a representative democracy. We find that corruption is pro-cyclical and regulation policy is counter-cyclical. Corrupt politicians engage in excessive stabilization of aggregate fluctuations and behave as if they were Keynesian. We also find that business cycle shocks can induce political instability with politicians losing office in recessions

Big Bang nucleosynthesis with a stiff fluid

Models that lead to a cosmological stiff fluid component, with a density $\rho_S$ that scales as $a^{-6}$, where $a$ is the scale factor, have been proposed recently in a variety of contexts. We calculate numerically the effect of such a stiff fluid on the primordial element abundances. Because the stiff fluid energy density decreases with the scale factor more rapidly than radiation, it produces a relatively larger change in the primordial helium-4 abundance than in the other element abundances, relative to the changes produced by an additional radiation component. We show that the helium-4 abundance varies linearly with the density of the stiff fluid at a fixed fiducial temperature. Taking $\rho_{S10}$ and $\rho_{R10}$ to be the stiff fluid energy density and the standard density in relativistic particles, respectively, at $T = 10$ MeV, we find that the change in the primordial helium abundance is well-fit by $\Delta Y_p = 0.00024(\rho_{S10}/\rho_{R10})$. The changes in the helium-4 abundance produced by additional radiation or by a stiff fluid are identical when these two components have equal density at a "pivot temperature", $T_*$, where we find $T_* = 0.55$ MeV. Current estimates of the primordial $^4$He abundance give the constraint on a stiff fluid energy density of $\rho_{S10}/\rho_{R10} < 30$.Comment: 6 pages, 2 figures. Clarification added: element abundances derived using a full numerical calculation. Version accepted at PR

Decaying dark matter mimicking time-varying dark energy

A $\Lambda$CDM model with dark matter that decays into inert relativistic energy on a timescale longer than the Hubble time will produce an expansion history that can be misinterpreted as stable dark matter with time-varying dark energy. We calculate the corresponding spurious equation of state parameter, $\widetilde w_\phi$, as a function of redshift, and show that the evolution of $\widetilde w_\phi$ depends strongly on the assumed value of the dark matter density, erroneously taken to scale as $a^{-3}$. Depending on the latter, one can obtain models that mimic quintessence ($\widetilde w_\phi > -1$), phantom models ($\widetilde w_\phi < -1$) or models in which the equation of state parameter crosses the phantom divide, evolving from $\widetilde w_\phi > -1$ at high redshift to $\widetilde w_\phi < -1$ at low redshift. All of these models generically converge toward $\widetilde w_\phi \approx -1$ at the present. The degeneracy between the $\Lambda$CDM model with decaying dark matter and the corresponding spurious quintessence model is broken by the growth of density perturbations.Comment: 6 pages, 2 figures. Added discussion of linear perturbation growth - version accepted at PR