{
 "validation_errors": [],
 "repairs": [
  "dropped figures.figures_note_placeholder_removed"
 ],
 "doc_id": "jof_12764",
 "ontology_version": "1.0",
 "prompt_version": "1.0",
 "model": "claude-opus-5-5",
 "effort": "medium",
 "annotated_at": "2026-11-03T23:26:28+00:00",
 "source_sha256": "188e7ca2a35e22875fc246dfb34d81351980f7bfe852121cbd3d2f936eead2c4",
 "parser": "pymupdf-jof-heuristics-1.3",
 "payload_chars": 12786,
 "usage": {
  "input": 4806,
  "output": 1656,
  "cache_read": 3968,
  "cache_write": 0
 },
 "cost_usd": 0.053138,
 "request_id": "req_011CggqNW87nM8jy5NKVkRHS",
 "annotation": {
  "genre": "theoretical",
  "subfield": "macro_finance",
  "subfield_secondary": "information economics / feedback between financial markets and real economy",
  "primary_method": "theoretical_model_analytical",
  "identification": {
   "estimand": "not applicable (theoretical model)",
   "strategy": "not applicable; analytical general equilibrium model with numerical illustrations",
   "key_assumptions": [
    "mutual learning between firms and financial markets",
    "monopolistic competition with constant markup",
    "CARA speculators",
    "OLG dynamic structure"
   ],
   "threats_addressed": [],
   "causal_language_strength": 1,
   "uses_causal_claim": false
  },
  "abstract_moves": {
   "question": {
    "present": false,
    "sentence_index": -1
   },
   "gap": {
    "present": false,
    "sentence_index": -1
   },
   "method": {
    "present": true,
    "sentence_index": 0
   },
   "results": {
    "present": true,
    "sentence_index": 1
   },
   "magnitude": {
    "present": false,
    "sentence_index": -1
   },
   "contribution": {
    "present": true,
    "sentence_index": 0
   }
  },
  "introduction": {
   "moves": [
    {
     "paragraph_index": 0,
     "move": "motivation"
    },
    {
     "paragraph_index": 0,
     "move": "tension_or_puzzle"
    },
    {
     "paragraph_index": 0,
     "move": "preview_of_approach"
    },
    {
     "paragraph_index": 0,
     "move": "mechanism_or_theory_sketch"
    }
   ],
   "contribution_paragraph_index": 0,
   "contribution_types": [
    "new_theory_or_model"
   ],
   "roadmap_present": false,
   "literature_positioning_location": "inside_introduction"
  },
  "section_roles": [
   {
    "idx": 0,
    "role": "introduction"
   },
   {
    "idx": 1,
    "role": "theory"
   },
   {
    "idx": 2,
    "role": "theory"
   },
   {
    "idx": 3,
    "role": "theory"
   },
   {
    "idx": 4,
    "role": "theory"
   },
   {
    "idx": 5,
    "role": "other"
   },
   {
    "idx": 6,
    "role": "conclusion"
   },
   {
    "idx": 7,
    "role": "appendix"
   },
   {
    "idx": 8,
    "role": "appendix"
   }
  ],
  "results_presentation": {
   "economic_significance_discussed": false,
   "statistical_significance_language": "unclear",
   "magnitude_statements_in_intro": false
  },
  "robustness": {
   "location": "none_seen",
   "types": []
  },
  "tables": {
   "convention_notes": "Two tables: one lists the parameter values used for the numerical illustration, with descriptions and sources; the other compares good versus bad steady-state equilibrium outcomes (GDP, investment, TFP, information precisions). No inferential statistics.",
   "units_stated_in_notes": false,
   "standard_errors_description": "none"
  },
  "figures": {
   "uncertainty_shown": "no"
  },
  "conclusion": {
   "bounded_claims": true,
   "policy_implications": false,
   "open_questions": true,
   "restates_contribution": true
  },
  "hedging": {
   "level": "low",
   "typical_devices": [
    "'possibly' for multiplicity of steady states",
    "acknowledging the model is too stylized to calibrate",
    "noting modeling assumptions such as constant markup"
   ]
  },
  "claim_evidence": [
   {
    "claim": "Uncertainty in financial and real sectors spiked jointly in the Great Recession, motivating the question",
    "evidence_type": "prior_literature",
    "evidence_ref": "VIX; Jurado, Ludvigson, and Ng (2015); Bloom et al. (2012)"
   },
   {
    "claim": "Mutual learning creates strategic complementarity in information production between firms and speculators",
    "evidence_type": "equation_or_proof",
    "evidence_ref": "Sections I–II; Appendix B"
   },
   {
    "claim": "General equilibrium model yields amplification, co-movement of uncertainties, contagion and cross-sectional implications",
    "evidence_type": "equation_or_proof",
    "evidence_ref": "Section III.C; Figures 2–4"
   },
   {
    "claim": "Dynamic OLG model can have two steady states (uncertainty traps) and a two-stage crisis",
    "evidence_type": "figure",
    "evidence_ref": "Figures 5, 6, 8; Table II"
   }
  ],
  "structural_summary": "The paper opens with stylized facts on joint uncertainty spikes and poses them as research questions. It then builds the theory incrementally:\n- a one-firm baseline with exogenous information establishing two-way learning;\n- endogenous information acquisition generating strategic complementarity;\n- a macro GE extension that delivers four implications;\n- a dynamic OLG extension that delivers uncertainty traps and transitional crisis dynamics.\nNumerical illustrations with assigned parameters follow, then a conclusion restating the mechanism and noting extensions. Proofs are in the appendix.",
  "writing_profile_keywords": [
   "theory-building",
   "incremental model extension",
   "general equilibrium",
   "multiple equilibria",
   "stylized facts motivation",
   "numerical illustration",
   "proofs in appendix"
  ],
  "confidence": 0.8,
  "notes": "The introduction is captured as a single paragraph, so moves beyond the motivation and approach preview are not visible. The numerical section explicitly disclaims calibration."
 },
 "deterministic_checks": {
  "roadmap_regex": false,
  "contribution_regex_in_intro": false,
  "magnitude_in_abstract": false,
  "abstract_n_sentences": 4,
  "intro_n_paragraphs": 1,
  "intro_n_words": 216,
  "causal_words_in_abstract": 0,
  "hedge_words_in_abstract": 0,
  "stars_mentioned": false,
  "clustered_se_mentioned": false,
  "internet_appendix_mentioned": false,
  "section_roles_rule": {
   "0": "introduction",
   "1": "theory",
   "2": "theory",
   "3": "theory",
   "4": "theory",
   "5": "other",
   "6": "conclusion",
   "7": "appendix",
   "8": "appendix"
  }
 },
 "schema_valid": true,
 "code_version": "87c73cd-dirty"
}