Massive and Persistent Resistance to Substantial and Necessary Appreciation of the Remninbi by the Chinese Authorities: A Comment on
Bibliographic record
Abstract
Thank you very much Mr. Chairman. It is a great pleasure to participate in this Conference honoring Bill White on the occasion of his retirement as the Chief Economist of the BIS. I have known Bill for seventeen years, first when he was Deputy Governor of the Bank of Canada and more recently in his role at the BIS. Like most of you here, I have not always agreed with Bill on every point, although I have agreed with him far more often than not. Even when we have disagreed, I have always admired that Bill’s papers and comments made important points clearly and succinctly, leaving no doubt about the facts and analysis backing Bill’s position. Following in that tradition, I note that while there are a number of points where I agree with the analysis of McKinnon and Schnabl, their basic conclusion is economic nonsense. 1 Since 2002, the Chinese renminbi has become increasingly undervalued on a real effective basis, as is reflected in a
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.
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 | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 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".