Essays in international finance and macroeconomics
Bibliographic record
Abstract
This doctoral thesis consists of four chapters that contribute to research agendas in international macroeconomics and finance. The first and last chapters shed light on the drivers of institutional investors’ portfolio allocation. Chapter 1 studies how changes in European carbon prices impact mutual funds’ stock holdings of carbon-intensive firms. Chapter 4 constructs a novel dataset on large pension funds across the world, to assess their financial risk-taking during the low interest rate environment of the early 2000s. Chapters 2 and 3 study the macroeconomic impacts of carbon pricing, which is increasingly used as a tool to mitigate the effects of climate change. The second chapter asks to what extent carbon taxes enacted in European countries and Canadian provinces contributed to overall inflation. The third chapter contrasts the economic and emission impacts of carbon taxes in Europe with price changes in the European Emissions Trading System. All chapters have a strong empirical focus, addressing policy-relevant research questions through rigorous and careful analysis applied to novel, often micro-level data.
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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 | 0.003 | 0.012 |
| Meta-epidemiology (narrow) | 0.001 | 0.000 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.004 | 0.006 |
| Science and technology studies | 0.002 | 0.004 |
| Scholarly communication | 0.006 | 0.005 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.003 | 0.005 |
| Insufficient payload (model declined to judge) | 0.020 | 0.005 |
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".