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Record W3140163649

What do robust policies look like for open economy in‡ation targeters?

2004· article· en· W3140163649 on OpenAlex
Kirdan Lees

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.

aboutThe title or abstract carries a Canadian signal from the geographic lexicon.
no affNo Canadian affiliation: this work is invisible to an affiliation-only frame.
No Canadian affiliation. An affiliation-only frame, the usual design, would never have seen this work. It is one of the works that make the case for inverting the frame.

Bibliographic record

VenueComputing in Economics and Finance · 2004
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicFiscal Policies and Political Economy
Canadian institutionsnot available
Fundersnot available
KeywordsEconomicsExchange rateNew Keynesian economicsOpen economyMonetary policyInflation targetingVolatility (finance)Monetary economicsSmall open economyCentral bankOutput gapKeynesian economicsReal economyTransparency (behavior)Context (archaeology)Interest rateEconomyMacroeconomicsFinancial economics
DOInot available

Abstract

fetched live from OpenAlex

This paper examines the role of the open economy in determining robust rules when the central bank fears various model misspecication errors. A new Keynesian model is calibrated to …t the economies of three archetypal open economy in‡ation targeters — Australia, Canada and New Zealand. Robust policies respond more aggressively to not only the exchange rate, but also in‡ation, the output gap and their associated shocks. This result generalizes to the context of a ‡exible in‡ation targeting central bank that cares about the volatility of the real exchange rate. However, when the central bank places only a small weight on interest rate smoothing and fears misspeci…cation in only

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: Theoretical or conceptual · Consensus signal: Theoretical or conceptual
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.191
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 communication0.0010.001
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0000.000

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 head0.238
Teacher spread0.207 · 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