Inflation Targets and Stabilization in Chile

Chile was among the first countries to adopt an inflation target. Its long inflation history had led to widespread backward-looking indexation in goods, labour, and financial markets as well as in policy instruments. While indexation exacerbates inflation inertia, this paper provides evidence that adoption of inflation targets by an autonomous Central Bank since 1990 has made possible a regime change reflected in gradual inflation convergence toward international levels. Assessing Chile’s targeting experience in an international context and analyzing the conduct of monetary policy in Chile provides the background for understanding its recent stabilization experience. A simple dynamic model illustrates the role and macro effects of inflation targeting in a highly indexed open economy. VAR estimations for inflation, inflation targets, and related macro variables support the notion that the introduction of forward-looking inflation targets has contributed to breaking inflation expectations, paving the way for Chile’s convergence to sustained lower inflation and reducing the influence of indexation albeit most indexation mechanisms are still in place.

Localization of fermions in different domain wall models

Localization of fermions is studied in different gravitational domain wall models. These are generalizations of the brane-world models considered by Randall and Sundrum, but which also allow gravitational localization. Therefore, they might be considered as possible realistic scenarios for phenomenology.Comment: RevTeX, 6 pages, 10 figure

Music Composition in the 17th and 18th centuries: A Historical Analysis of how Georg Frideric Handel Participated in “Borrowing”

The primary focus in this research paper is borrowing; this means borrowing from other composers, and self-borrowing from a previous composition. It is widely accepted in scholarship that Georg Frideric Handel participated in the action of borrowing. However, there is significantly more contention among scholars surrounding both the extent of Handel’s borrowing, as well as what the appropriate modern perspective is for these actions. In this research paper our primary focus will be on Handel’s borrowings, the benefits he received from these actions, and the historical lens of borrowing in the seventeenth and eighteenth centuries

Axions in gravity with torsion

We study a scenario allowing a solution of the strong charge parity problem via the Peccei-Quinn mechanism, implemented in gravity with torsion. In this framework there appears a torsion-related pseudoscalar field known as Kalb-Ramond axion. We compare it with the so-called Barbero-Immirzi axion recently proposed in the literature also in the context of the gravity with torsion. We show that they are equivalent from the viewpoint of the effective theory. The phenomenology of these torsion-descended axions is completely determined by the Planck scale without any additional model parameters. These axions are very light and very weakly interacting with ordinary matter. We briefly comment on their astrophysical and cosmological implications in view of the recent BICEP2 and Planck data.Comment: 7 pages, no figures, comments and references added, published versio

Spongologische Mittheilungen

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Perspectives on Institutional Change â Water Management in Europe

Agricultural Finance, Political Economy,