Federalism and Capital Markets in Canada and the U.S.: Financing Infrastructure in the Wake of Hurricane Katrina
Bibliographic record
Abstract
Hurricane Katrina was much more than a natural disaster, it also left New Orleans and the Gulf Coast of the United States financially devastated. The re-building effort will take place on the ground, coordinated largely by the state and federal governments, and financed in capital markets. Markets can supplement federalism. A key advantage of debt markets is that these competitive, risk-bearing institutions are less prone to accept questionable projects and financial plans than are politicians up the federalism hierarchy. This paper examines the financial relationship and programs of the federal in the US and Canada with the sub-national governments at the state/provincial and municipal levels, and concludes each country could learn from the other. Citizens in both countries were left in awe of the sudden disintegration of New Orleans and its infrastructure. As with infrastructure questions elsewhere, the solution is likely to be found in a combination of federalism and capital markets.
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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 | 0.004 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.003 |
| Science and technology studies | 0.012 | 0.005 |
| Scholarly communication | 0.006 | 0.002 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.001 | 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".