Analysis of Real and Nominal Interest Rates with Inflation for OECD Countries: Evidence from LM Unit Root Tests with Structural Breaks
Bibliographic record
Abstract
This paper investigates the stationary characteristics of computed real interest rates with nominal interest rates and inflation for 22 OECD countries. Using quarterly data over the 2000 – 2010 period, LM unit root test is employed which endogenously determines up to two structural breaks in level and trend. The empirical findings suggest a combination of stationary and nonstationary results for real interest rates, nominal interest rates and inflation. Besides, the internal stationarity or nonstationary interactions of real and nominal interest rates are investigated by inflation. The results indicate that stationary nominal interest rates and inflation cause stationary real interest rates. At the same time nonstationary nominal interest rates and inflation could cause a stationary or nonstationary real interest rate with respect to cointegration. Stationary nominal interest rate and nonstationary real interest rate cause to nonstationary real interest rate while nonstationary nominal interest rate and stationary inflation could cause stationary or nonstationary real interest rate.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot 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.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.006 | 0.038 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.002 | 0.004 |
| Science and technology studies | 0.000 | 0.001 |
| Scholarly communication | 0.001 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.002 | 0.001 |
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.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
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".