Pulsars are highly magnetized, rotating neutron stars that emit a beam of electromagnetic radiation. The observed periods of their pulses range from 1.4 milliseconds to 8.5 seconds. The radiation can only be observed when the beam of emission is pointing towards the Earth. This is called the lighthouse effect and gives rise to the pulsed nature that gives pulsars their name. Because neutron stars are very dense objects, the rotation period and thus the interval between observed pulses is very regular. For some pulsars, the regularity of pulsation is as precise as an atomic clock. A few pulsars are known to have planets orbiting them, such as PSR B1257+12. Werner Becker of the Max Planck Institute for Extraterrestrial Physics said in 2006, "The theory of how pulsars emit their radiation is still in its infancy, even after nearly forty years of work.
The events leading to the formation of a pulsar begin when the core of a massive star is compressed during a supernova, which collapses into a neutron star. The neutron star retains most of its angular momentum, and since it has only a tiny fraction of its progenitor's radius (and therefore its moment of inertia is sharply reduced), it is formed with very high rotation speed. A beam of radiation is emitted along the magnetic axis of the pulsar, which spins along with the rotation of the neutron star. The magnetic axis of the pulsar determines the direction of the electromagnetic beam, with the magnetic axis not necessarily being the same as its rotational axis. This misalignment causes the beam to be seen once for every rotation of the neutron star, which leads to the "pulsed" nature of its appearance. The beam originates from the rotational energy of the neutron star, which generates an electrical field from the movement of the very strong magnetic field, resulting in the acceleration of protons and electrons on the star surface and the creation of an electromagnetic beam emanating from the poles of the magnetic field. This rotation slows down over time as electromagnetic power is emitted. When a pulsar's spin period slows down sufficiently, the radio pulsar mechanism is believed to turn off (the so-called "death line"). As this seems to take place after ~10-100 million years, but neutron stars have been formed throughout the ~13.6 billion year age of the universe, more than 99% of neutron stars are thought to no longer be pulsars. To date, the slowest observed pulsar has a period of 8 seconds.