Open-string oscillator degeneracy ($F(w)={\prod }_{n\ge 1}(1-w^n{)}^{-24}$)

For an ordinary critical open string with all Neumann boundary conditions, there are 24 independent transverse creation oscillators at each positive mode number $n$. Summing their nonnegative occupation numbers gives one factor $(1-w^n{)}^{-24}$. The coefficient $d_p=[w^p]F(w)$ counts oscillator polarizations at level $p$, excluding continuous center-of-mass momentum and additional endpoint multiplicities. Cauchy coefficient formula gives $d_p=(2\pi i{)}^{-1}\oint F(w)w^{-p-1}dw$.

The Dedekind eta function modular transformation gives $F(e^{-t})\sim (t/2\pi {)}^{12}\exp (4{\pi }^2/t-t)$. The saddle-point approximation for coefficient extraction has $t_0=2\pi /\sqrt{p-1}$, phase $4\pi \sqrt{p-1}$ and curvature $(p-1{)}^{3/2}/\pi$. Its prefactor $t_0^{12}$ supplies $(p-1{)}^{-6}$ and the Gaussian width supplies $(p-1{)}^{-3/4}/\sqrt{2}$. This explains both the exponential growth and the power $-27/4$.