The political economy of mortgage securitization and the neoliberalization of housing policy in Canada
Bibliographic record
Abstract
The Canadian case represents a distinct variety of financialization under capitalism, one conditioned by the structure of its mortgage markets and the dominant role played by the state in the process of mortgage securitization. Securitization has been a key component of the neoliberalization of housing policy, with new state roles in the insuring, directing and funding of residential mortgage-backed securities both undergirding and justifying the federal shift from the provision of social rental housing toward supporting a rental market increasingly characterized by private sector individualunit landlord-investors. It was primarily the state's control over, and utilization of, the securitization process that maintained the solvency of the financial system in the face of the global financial crisis. However the resulting rapid uptake of liabilities on behalf of both the state and households brought forth new contradictions, necessitating new policy experimentation and reregulation, to which securitization was once again directed and which now articulate the political economy of housing in the country.
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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 | 0.001 | 0.005 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.012 | 0.008 |
| Scholarly communication | 0.006 | 0.001 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.002 | 0.002 |
| Insufficient payload (model declined to judge) | 0.004 | 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 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".