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Record W1876869654

FOREIGN SHOCKS IN AN ESTIMATED MULTI-SECTOR MODEL

2014· preprint· en· W1876869654 on OpenAlexaboutno aff
Drago Bergholt

Bibliographic record

VenueDuo Research Archive (University of Oslo) · 2014
Typepreprint
Languageen
FieldEconomics, Econometrics and Finance
TopicMonetary Policy and Economic Impact
Canadian institutionsnot available
Fundersnot available
KeywordsEconomicsDynamic stochastic general equilibriumSmall open economyBusiness cycleCounterfactual thinkingProductivityInflation (cosmology)Open economySpillover effectMonetary economicsExchange rateMacroeconomicsInvestment (military)EconometricsMonetary policy
DOInot available

Abstract

fetched live from OpenAlex

How are macroeconomic fluctuations in open economies affected by international\nbusiness cycles? To shed some light on this question, I develop and estimate\na medium scale DSGE model for a small open economy. The model incorporates\ni) international markets for firm-to-firm trade in production inputs, and ii) producer\nheterogeneity where technology and price setting constraints vary across industries.\nUsing Bayesian techniques on Canadian and US data, I document several macroeconomic regularities in the small open economy, all attributed to international disturbances. First, foreign shocks are crucial for domestic fluctuations at all forecasting\nhorizons. Second, productivity is the most important driver of business cycles.\nInvestment efficiency shocks on the other hand have counterfactual implications for\ninternational spillover. Third, the relevance of foreign shocks accumulates over time.\nFourth, business cycles display strong co-movement across countries, even though\nshocks are uncorrelated and the trade balance is countercyclical. Fifth, exchange\nrate pass-through to aggregate CPI inflation is moderate, while pass-through at the\nsector level is positively linked to the frequency of price changes. Few of these features\nhave been accounted for in existing open economy DSGE literature, but all are\nconsistent with reduced form evidence. The model presented here offers a structural\ninterpretation of the results.

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)0.001
metaresearch head score (Gemma)0.003
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Simulation or modeling · Consensus signal: Simulation or modeling
GenreCandidate signal: Empirical · Consensus signal: none
Teacher disagreement score0.046
Threshold uncertainty score0.091

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0010.003
Meta-epidemiology (narrow)0.0010.001
Meta-epidemiology (broad)0.0010.001
Bibliometrics0.0010.002
Science and technology studies0.0000.001
Scholarly communication0.0030.002
Open science0.0010.001
Research integrity0.0030.002
Insufficient payload (model declined to judge)0.0140.002

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 head0.238
GPT teacher head0.308
Teacher spread0.070 · 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 designSimulation or modeling
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

Citations2
Published2014
Admission routes1
Has abstractyes

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