We consider an O(N) model coupled self-consistently to gravity in the
semiclassical approximation, where the field is subject to ''new infla
tion'' type initial conditions. We study the dynamics self-consistentl
y and non-perturbatively with non-equilibrium field theory methods in
the large N limit. We find that spinodal instabilities drive the growt
h of non-perturbatively large quantum fluctuations which shut off the
inflationary growth of the scale factor. We find that a very specific
combination of these large fluctuations plus the inflaton zero mode as
semble into a new effective field. This new field behaves classically
and it is the object which actually rolls down. We show how this reint
erpretation saves the standard picture of how metric perturbations are
generated during inflation and that the spinodal growth of fluctuatio
ns dominates the time dependence of the Bardeen variable for superhori
zon modes during inflation. We compute the amplitude and index for the
spectrum of scalar density and tensor perturbations and argue that in
all models of this type the spinodal instabilities are responsible fo
r a ''red'' spectrum of primordial scalar density perturbations. A cri
terion for the validity of these models is provided and contact with t
he reconstruction program is established validating some of the result
s within a non-perturbative framework. The decoherence aspects and the
quantum to classical transition through inflation are studied in deta
il by following the full evolution of the density matrix and relating
the classicality of cosmological perturbations to that of long-wavelen
gth matter fluctuations. [S0556-2821(98)03804-1].