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Record W2735516182 · doi:10.1017/s1365100516000511

DISCERNING TRENDS IN COMMODITY PRICES

2017· article· en· W2735516182 on OpenAlex

Why this work is in the frame

A frame that forgets how it found something cannot be audited. These are the routes that admitted this work.

affAt least one author lists a Canadian institution in the pinned OpenAlex snapshot.

Bibliographic record

VenueMacroeconomic Dynamics · 2017
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicMarket Dynamics and Volatility
Canadian institutionsUniversity of Toronto
Fundersnot available
KeywordsObsolescenceEconomicsCommodityNonparametric statisticsCompetition (biology)EconometricsInflation (cosmology)CoalPoint (geometry)MicroeconomicsMacroeconomicsMarket economyMathematicsBusinessChemistry

Abstract

fetched live from OpenAlex

This paper emphasizes the use of data-driven techniques to discern trends in commodity prices. Whereas many previous papers rely on parametric assumptions, we take as our departure point the view that such trends are inherently nonparametric, driven by complex forces of innovation and obsolescence, competition and strategic behavior, resource depletion and discovery, and supply and demand. Our reference specification is the partial linear model y t = f ( t ) + z t β + ϵ t where macroeconomic variables z enter parametrically, and f is nonparametric, to be discovered using cross-validation. We analyze data on 11 commodities—3 hydrocarbons and 8 metals. For the majority of these commodities, our data-driven estimates of f bear close similarity to band pass estimates which include long term trends and super cycles. The OPEC effect is estimated to have increased oil prices by over 50% on average and coal prices by about 25%. U.S. coal mining legislation is estimated to have increased coal prices by 9% to 15%.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

Full frame distilled prediction

Teacher imitation

Not 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.

metaresearch head score (Codex)0.001
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesMeta-epidemiology (narrow)
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: Observational
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.468
Threshold uncertainty score1.000

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0010.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0010.000
Bibliometrics0.0000.000
Science and technology studies0.0000.000
Scholarly communication0.0000.001
Open science0.0010.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0010.000

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.

Opus teacher head0.030
GPT teacher head0.259
Teacher spread0.229 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it