Curvature perturbations and non-Gaussianities from the waterfall phase transition during inflation

We consider a variant of hybrid inflation where the waterfall phase transition occurs during inflation. By adjusting the parameters associated with the mass of the waterfall field, we can achieve a phase transition that is not sharp, thus inflation can proceed for about 50-60 e-folds after the waterfall phase transition. We show that one can work within the limit where the quantum back-reactions are subdominant compared to the classical back-reactions. It is shown that a significant amount of large scale curvature perturbations are induced from the entropy perturbations. The curvature perturbation spectral index is either blue or red depending on whether the mode of interest leaves the horizon before the phase transition or after the phase transition. This can have interesting observational consequences on CMB. The non-Gaussianity parameter f(NL) is calculated to be less than or similar to 1 but much bigger than the slow-roll parameters.