Open-economy Exchange Rate Regime and Macroeconomic Policy Options——Case of Canada
Bibliographic record
Abstract
Since Canada is a resources economy,the movements of Canadian dollar exchange rates are subject to changes in prices of commodities and crude oil on global markets and are beyond the zone of influence of domestic monetary policy.Independnet floating or fixed peg? That is the question.After two trials,the Government of Canada chose without any more hesitation independent floating,and eventually divorced exchange rate policy from monetary policy,giving greater autonomy to the Bank of Canada,who can focus on creating a low-inflation environment.Meanwhile,the federal government tried hard to foster a favourable environment for the exchange rate policy by clearly defining and the policy goals of monetary policy and fiscal ploicy and mixing appropriately the two major policy instruments,thereby laying a solid foundation for sustainability of the rate regime and economic growth.The paper focuses on the Canadian flexible exchange rate regime,examines aspects of Canadian fiscal policy,monetary policy and their interactions,and pays close attention to the role of the floating exchange rate regime as a shock absorber.
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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 | 0.002 | 0.005 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.009 | 0.003 |
| Scholarly communication | 0.007 | 0.002 |
| Open science | 0.002 | 0.002 |
| Research integrity | 0.004 | 0.003 |
| Insufficient payload (model declined to judge) | 0.005 | 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".