Good versus Bad Deflation: Lessons from the Gold Standard Era
Why this work is in the frame
A frame that forgets how it found something cannot be audited. These are the routes that admitted this work.
Bibliographic record
Abstract
Concerns expressed by the Federal Open Market Committee at its meeting in May 2003 that the “balance of risks in the U.S. had shifted in favor of deflation”; similar concerns raised by an International Monetary Fund (IMF) report on deflation (2002) over the risk of deflation in Europe, especially Germany and Switzerland; and the experience of declining price levels in China and Japan have sparked new interest in the subject of deflation. In this paper, we examine the issue from a historical perspective. We focus on the experience of deflation in the late nineteenth century, when most of the countries of the world adhered to the classical gold standard. The period 1880–1914 was characterized by two decades of secular deflation followed by two decades of secular inflation.
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Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
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.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it