Some Unexplored Financial Issues in the Monetary Circuit since the Financial Crisis
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.
Bibliographic record
Abstract
This article aims to extend the theory of the monetary circuit by taking into account the so-called financialization of the economy. While the existing literature on the subject includes the financialization of households in the classic circuit, which increasingly supplements income from work with consumer loans and for the purchase of housing, not much space has been dedicated to other aspects of financialization. In the article, we examine the growing tendency of non-financial companies to borrow from banks for reasons that go beyond the financing of working capital and investment. In particular, they also borrow to finance mergers and acquisitions, dividends and above all, share buybacks. In addition, banks grant loans to non-bank financial institutions that buy the securities issued by companies and then resell them to the companies themselves for capital gains. Non-bank financial institutions now have access to both direct central bank funding and the ability to deposit with the central bank. The central bank will be inserted in this circuit too.
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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 | 0.001 |
| 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 | 0.001 | 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 it