Transformation of the Financial System: Financialisation, Concentration and the Shift to Shadow Banking
Bibliographic record
Abstract
There is little doubt that the current crisis is the worst since the Great Depression. US real GDP fell by 5.4 per cent in the first quarter of 2009 alone and investment shrank by 50 per cent. The economy shed as many as 571,000 jobs from August to September, 2009 and November’s official unemployment rate jumped to 10.2 per cent while the broader measure (U-6) rose to a post-depression record of 17.5 per cent (BLS). Yet despite all the dire statistics, most economists believe that the US economy is on the path to a recovery, albeit a jobless one. The conventional view points to the following as evidence: the Dow Jones Industrial Average crossed the 10,000 mark, the housing market is widely believed to have bottomed and credit is flowing again at least to some sectors.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 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 teacher head, 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".