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Record W153313391

Exchange rates and commodity prices: an empirical investigation

2012· article· en· W153313391 on OpenAlexaboutno aff
Peng Zhao

Bibliographic record

VenueQueensland's institutional digital repository (The University of Queensland) · 2012
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicMarket Dynamics and Volatility
Canadian institutionsnot available
Fundersnot available
KeywordsEconomicsCommodityGranger causalityEconometricsExchange rateIndex (typography)Price indexContangoCommodity swapMonetary economicsCausality (physics)Financial economicsMacroeconomicsFinanceSpeculation
DOInot available

Abstract

fetched live from OpenAlex

This thesis examines causality and long-run relationships between nominal bilateralnexchange rates and the country-specified commodity price index. Different withnprevious literature, I use a robust Granger non-causality test to avoid pre-test biases andnspecified multivariate vector autoregressions to correct model misspecifications. Withnquarterly data from 1982Q3 to 2012Ql for three major commodity-exporting countries,nnamely Australia, Canada and New Zealand, and one major commodity net-importingncountry Japan, I find the exchange rate does Granger cause the commodity price indexnand also for the reversed direction. Evidence of the long-run relationship among thenexchange rate, the commodity price index and other macro-fundamentals is found fornall the four countries. Further results suggest that exchange rates for all the countriesnare persistent as they do not adjust to the equilibrium.n

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.002
metaresearch head score (Gemma)0.011
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: Observational
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.008
Threshold uncertainty score0.027

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0020.011
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0020.005
Science and technology studies0.0000.001
Scholarly communication0.0020.003
Open science0.0000.001
Research integrity0.0010.001
Insufficient payload (model declined to judge)0.0080.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.035
GPT teacher head0.225
Teacher spread0.190 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designObservational
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2012
Admission routes1
Has abstractyes

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