title: Inflation and Macroeconomic Effects of Inflation Targeting in Asia: Time-Series and Cross-Country Analysis

authors: Valera, Harold Glenn A.

subjects: Inflation targeting

abstract: Controlling inflation is important. The 2008-2009 global financial crisis created new concerns about the macroeconomic effects of inflation targeting. A key issue for many central banks in recent years has been that inflation is uncomfortably too low rather than too high. This thesis examines the impact of inflation targeting on the behaviour of inflation, output growth and real exchange rates for eight Asian countries using time-series and panel data from 1987 to 2013. The econometric methodologies employed include panel GARCH, quantile unit root and Markov regime-switching testing. Panel GARCH results indicate that inflation targeting is more credible in lowering the inflation level rather than its volatility. The quantile unit root testing results indicate that the credibility of inflation targeting and alternative monetary policy frameworks in Asia are imperfect, except for Malaysia and South Korea. Results also suggest that targeting countries have been building up their monetary policy credibility more than non-targeting countries, based on a faster rate of decline in inflation rate changes. Results generally indicate the presence of mean-reversion at the lower quantiles only. Where stationarity is present, results indicate varied speed of adjustment process across quantiles. The regime-switching results indicate that inflation and output growth are generally characterized by partial stationarity, while there is mostly varied stationarity in real exchange rates. Results also indicate that inflation targeting significantly affects the inferred probabilities of remaining in the stationary regime, mainly for output growth and real exchange rates and for inflation in some cases. Results further indicate that the variance of inflation and output growth is lower during the inflation targeting period. Furthermore, results indicate that there is a significant difference between targeting and non-targeting countries in terms of the speed of adjustment of macroeconomic variables towards the equilibrium level and the behaviour of inferred probabilities of remaining in the stationary regime.

text: Inflation and Macroeconomic Effects of Inflation Targeting in Asia: Time-Series and Cross-Country Analysis Controlling inflation is important. The 2008-2009 global financial crisis created new concerns about the macroeconomic effects of inflation targeting. A key issue for many central banks in recent years has been that inflation is uncomfortably too low rather than too high. This thesis examines the impact of inflation targeting on the behaviour of inflation, output growth and real exchange rates for eight Asian countries using time-series and panel data from 1987 to 2013. The econometric methodologies employed include panel GARCH, quantile unit root and Markov regime-switching testing. Panel GARCH results indicate that inflation targeting is more credible in lowering the inflation level rather than its volatility. The quantile unit root testing results indicate that the credibility of inflation targeting and alternative monetary policy frameworks in Asia are imperfect, except for Malaysia and South Korea. Results also suggest that targeting countries have been building up their monetary policy credibility more than non-targeting countries, based on a faster rate of decline in inflation rate changes. Results generally indicate the presence of mean-reversion at the lower quantiles only. Where stationarity is present, results indicate varied speed of adjustment process across quantiles. The regime-switching results indicate that inflation and output growth are generally characterized by partial stationarity, while there is mostly varied stationarity in real exchange rates. Results also indicate that inflation targeting significantly affects the inferred probabilities of remaining in the stationary regime, mainly for output growth and real exchange rates and for inflation in some cases. Results further indicate that the variance of inflation and output growth is lower during the inflation targeting period. Furthermore, results indicate that there is a significant difference between targeting and non-targeting countries in terms of the speed of adjustment of macroeconomic variables towards the equilibrium level and the behaviour of inferred probabilities of remaining in the stationary regime.

year: 2017

title: Multiclass alternating decision trees

authors: Holmes, Geoffrey

subjects: computer science

abstract: The alternating decision tree (ADTree) is a successful classification technique that combines decision trees with the predictive accuracy of boosting into a set of interpretable classification rules. The original formulation of the tree induction algorithm restricted attention to binary classification problems. This paper empirically evaluates several wrapper methods for extending the algorithm to the multiclass case by splitting the problem into several two-class problems. Seeking a more natural solution we then adapt the multiclass LogitBoost and AdaBoost.MH procedures to induce alternating decision trees directly. Experimental results confirm that these procedures are comparable with wrapper methods that are based on the original ADTree formulation in accuracy, while inducing much smaller trees.

text: Multiclass alternating decision trees The alternating decision tree (ADTree) is a successful classification technique that combines decision trees with the predictive accuracy of boosting into a set of interpretable classification rules. The original formulation of the tree induction algorithm restricted attention to binary classification problems. This paper empirically evaluates several wrapper methods for extending the algorithm to the multiclass case by splitting the problem into several two-class problems. Seeking a more natural solution we then adapt the multiclass LogitBoost and AdaBoost.MH procedures to induce alternating decision trees directly. Experimental results confirm that these procedures are comparable with wrapper methods that are based on the original ADTree formulation in accuracy, while inducing much smaller trees.

year: 2002

title: Summerhill school is it possible in Aotearoa New Zealand?: Challenging the neo-liberal ideologies in our hegemonic schooling system

authors: Peck, Mikaere Michelle S.

subjects: Matriarchal society

abstract: The original purpose of this thesis is to explore the possibility of setting up a school in Aotearoa (New Zealand) that operates according to the principles and philosophies of Summerhill School in Suffolk, England. An examination of Summerhill School is therefore the purpose of this study, particularly because of its commitment to self-regulation and direct democracy for children. My argument within this study is that Summerhill presents precisely the type of model Māori as Tangata Whenua (Indigenous people of Aotearoa) need in our design of an alternative schooling programme, given that self-regulation and direct democracy are traits conducive to achieving Tino Rangitiratanga (Self-government, autonomy and control). In claiming this however, not only would Tangata Whenua benefit from this model of schooling; indeed it has the potential to serve the purpose of all people regardless of age race or gender. At present, no school in Aotearoa has replicated Summerhill's principles and philosophies in their entirety. 
Given the constraints of a Master's thesis, this piece of work is therefore only intended as a theoretical background study for a much larger kaupapa (purpose). It is my intention to produce a further and more comprehensive study in the future using Summerhill as a vehicle to initiate a model school in Aotearoa that is completely antithetical to the dominant neo-liberal philosophy of our age. To this end, my study intends to demonstrate how neo-liberal schooling is universally dictated by global money market trends, and how it is an ideology fueled by the indifferent acceptance of the general population. In other words, neo-liberal theory is a theory of capitalist colonisation. 
In order to address the long term vision, this project will be comprised of two major components. The first will be a study of the principal philosophies that govern Summerhill School. As I will argue, Summerhill creates an environment that is uniquely successful and fulfilling for the children who attend. At the same time, it will also be shown how it is a philosophy that is entirely contrary to a neo-liberal mindset; an antidote, to a certain extent, to the ills of contemporary schooling. The second component will address the historical movement of schooling in Aotearoa since the Labour Party's landslide victory in 1984, and how the New Zealand Curriculum has been affected by these changes. I intend to trace the importation of neo-liberal methodologies into Aotearoa such as the 'Picot Taskforce,' 'Tomorrows Schools' and 'Bulk Funding,' to name but a few. The neo-liberal ideologies that have swept through this country in the last two decades have relentlessly metamorphosised departments into businesses and forced ministries into the marketplace, hence causing the 'ideological reduction of education' and confining it to the parameters of schooling.
The purpose of this research project is to act as a catalyst for the ultimate materialization of an original vision; the implementation of a school like Summerhill in Aotearoa. A study of the neo-liberal ideologies that currently dominate this country is imperative in order to understand the current schooling situation in Aotearoa and create an informed comparison between the 'learning for freedom' style of Summerhill and the 'learning to earn' style of our status quo schools. It is my hope to strengthen the argument in favour of Summerhill philosophy by offering an understanding of the difference between the two completely opposing methods of learning.

text: Summerhill school is it possible in Aotearoa New Zealand?: Challenging the neo-liberal ideologies in our hegemonic schooling system The original purpose of this thesis is to explore the possibility of setting up a school in Aotearoa (New Zealand) that operates according to the principles and philosophies of Summerhill School in Suffolk, England. An examination of Summerhill School is therefore the purpose of this study, particularly because of its commitment to self-regulation and direct democracy for children. My argument within this study is that Summerhill presents precisely the type of model Māori as Tangata Whenua (Indigenous people of Aotearoa) need in our design of an alternative schooling programme, given that self-regulation and direct democracy are traits conducive to achieving Tino Rangitiratanga (Self-government, autonomy and control). In claiming this however, not only would Tangata Whenua benefit from this model of schooling; indeed it has the potential to serve the purpose of all people regardless of age race or gender. At present, no school in Aotearoa has replicated Summerhill's principles and philosophies in their entirety. 
Given the constraints of a Master's thesis, this piece of work is therefore only intended as a theoretical background study for a much larger kaupapa (purpose). It is my intention to produce a further and more comprehensive study in the future using Summerhill as a vehicle to initiate a model school in Aotearoa that is completely antithetical to the dominant neo-liberal philosophy of our age. To this end, my study intends to demonstrate how neo-liberal schooling is universally dictated by global money market trends, and how it is an ideology fueled by the indifferent acceptance of the general population. In other words, neo-liberal theory is a theory of capitalist colonisation. 
In order to address the long term vision, this project will be comprised of two major components. The first will be a study of the principal philosophies that govern Summerhill School. As I will argue, Summerhill creates an environment that is uniquely successful and fulfilling for the children who attend. At the same time, it will also be shown how it is a philosophy that is entirely contrary to a neo-liberal mindset; an antidote, to a certain extent, to the ills of contemporary schooling. The second component will address the historical movement of schooling in Aotearoa since the Labour Party's landslide victory in 1984, and how the New Zealand Curriculum has been affected by these changes. I intend to trace the importation of neo-liberal methodologies into Aotearoa such as the 'Picot Taskforce,' 'Tomorrows Schools' and 'Bulk Funding,' to name but a few. The neo-liberal ideologies that have swept through this country in the last two decades have relentlessly metamorphosised departments into businesses and forced ministries into the marketplace, hence causing the 'ideological reduction of education' and confining it to the parameters of schooling.
The purpose of this research project is to act as a catalyst for the ultimate materialization of an original vision; the implementation of a school like Summerhill in Aotearoa. A study of the neo-liberal ideologies that currently dominate this country is imperative in order to understand the current schooling situation in Aotearoa and create an informed comparison between the 'learning for freedom' style of Summerhill and the 'learning to earn' style of our status quo schools. It is my hope to strengthen the argument in favour of Summerhill philosophy by offering an understanding of the difference between the two completely opposing methods of learning.

year: 2009