Bibliographic record
Abstract
Australia's current account deficit (CAD) has averaged 4 per cent of GDP over the past two decades. This has led to rising net foreign liabilities, which have been accumulated almost exclusively by the private sector rather than the public sector. Net foreign liabilities have risen gradually as a share of GDP over this two-decade period but have fallen gradually as a share of private sector wealth over the past decade. The CAD measures the extent to which Australia draws on foreign savings to fund that portion of national investment that is not funded by domestic national savings. It is therefore of interest to examine the rates of national saving and investment and their components through time. Financial deregulation and house-price booms in Australia and other Anglophone countries have acted to reduce private saving rates in recent years. Those Anglophone countries with no recent decline in national saving rates (Australia, Canada and New Zealand) have achieved this outcome by significantly improving their government budget balances, and in Australia's case, with the help of a compulsory private saving scheme. House-price booms in the Anglophone countries have also tended to raise dwelling investment as a share of GDP. In Australia's case, the recent house-price boom has accentuated a four-decade trend rise in the share of GDP devoted to dwelling investment. Over the next several years, however, the share of Australian GDP devoted to dwelling investment may decline gradually as the house-price boom continues to wane, reducing this contribution to the CAD. At the same time, the contribution from business investment, and mining investment in particular, is likely to rise.
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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 | 0.003 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.002 |
| Science and technology studies | 0.002 | 0.001 |
| Scholarly communication | 0.006 | 0.005 |
| Open science | 0.001 | 0.003 |
| Research integrity | 0.005 | 0.006 |
| Insufficient payload (model declined to judge) | 0.013 | 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".