Analysis of Shocks Affecting Europe: EMU and some Central and Eastern Acceding Countries

This paper deals with the synchronization of business cycles and economic shocks between the euro area and acceding countries. We therefore extract the business cycle component of output by using Hodrick-Prescott filter. Supply and demand shocks are recovered from estimated structural VAR models of output growth and inflation using long run restriction (Blanchard and Quah). We then check the (A) symmetry of these shocks by calculating the correlation between euro area shocks and those of the different acceding countries. We find that several acceding countries have a quite high correlation of demand shocks with the euro area however supply shocks are asymmetric; the correlation between euro area and central and east European countries (CEECs) is negative. We therefore conclude that joining the European Monetary Union is not yet possible: central and east European countries have to make structural changes to join the European Monetary Union.Central and East European countries, Euro area, SVAR models, Hodrick-Prescott filter, Symmetric-asymmetric shocks

Sources of economic fuctuations in France: A structural VAR model

This paper studies the economic fluctuations of an open economy such as the French economy. A system of variables containing output, price level, trade balance, real exchange rate and oil prices is analyzed by applying the structural vector autoregressive (SVAR) methodology initiated by Sims (1980). This set of variables allows to evaluate the main sources of impulses of the French economy fluctuations. The results show that five structural shocks are identified using the long-run constraints implemented by Blanchard and Quah (1989). From the SVAR dynamic properties, impulse response functions and variance decomposition, the French economy is shown to be particularly vulnerable to supply and oil price shocks, where these two shocks respectively contribute to 40% and 35% of the economic disturbance. France is also hit by important external shocks which damage its trade balance position. Finally, it is found that shocks related to economic policy (demand shocks) have a quite limited impact on the economic activity

Gulf Cooperation Council Monetary Union: Business Cycle Synchronization, Shocks Correlation

In this paper we assess the readiness of the Gulf cooperation council members (Qatar, Saudi Arabia, Kuwait and Bahrain) to form a viable currency monetary area. It deals with business cycle synchronization and economic shocks correlation. To do so we employ different methods, first we extract the business cycle component of output using Hodrick-Prescott filter. Second, supply and demand shocks are recovered from an estimated structural VAR model of output growth and inflation using long run restriction (Blanchard and Quah). We then check the (A) symmetry of these shocks by calculating the correlation between GCC countries. It’s appears from our investigation that there is no business cycle synchronization evidence between GCC countries, business cycle is rather divergent among them. And despite of the demand shocks symmetry, supply shocks are rather asymmetric. We therefore conclude that there is no evidence of the readiness of the GCC members to form a monetary currency unio

DSGE Model Of A Small Open Economy: France

In this paper we asses the effects and the transmission mechanisms of domestic and external shocks (we take a productivity shock associated to an imported energy shock) on the macroeconomic variables of a small open economy, using a dynamic stochastic general equilibrium model. We estimate a DSGE model in an open economy: France. In a first step, we begin by studying the cyclical features of the French economy, those of its main trading partners and the USA; this exercise enables us to make comparisons between France and its European neighbours. Once the facts are established, we will describe our model, its main features, then we solve it, make calibration and check the effects of exogenous shocks on the economic variables through the response impulse functions and the variance decomposition. Finally, we make comparison between the model’s statistical moments of order two and those related to real facts in order to assess the validity of the model. It appears from our investigation, a significant correlation of the French cyclical characteristics with those of its neighbours. The France economy is also more vulnerable to technology shocks than to price of imported energy shocks

Agri-food clusters: Does French policy match with real spatial dynamics?

In this paper, we attempt to ascertain to what extent the clusters identified in the agricultural and agri-food space rely on a spatial dynamic involving real agricultural and agri-food activities in the relevant geographic area. We use explanatory spatial data analysis (ESDA) to detect the spatial structure and dynamics of agri-food activities and to connect them to the competitiveness clusters’ locations. Results show that the six clusters specifically studied have different profiles because of their proximity to dynamic areas of agricultural and agri-food production and because of their collaborations with other clusters. Keywords: French Competitiveness Clusters, spatial analysis, inter cluster collaboration.

Cohomology and Deformations of nn-Lie algebra morphisms

The study of $n$-Lie algebras which are natural generalization of Lie algebras is motivated by Nambu Mechanics and recent developments in String Theory and M-branes. The purpose of this paper is to define cohomology complexes and study deformation theory of $n$-Lie algebra morphisms. We discuss infinitesimal deformations, equivalent deformations and obstructions. Moreover, we provide various examples

L'impact du modèle de gestion des ressources humaines sur la réalisation du plan de développement des ressources humaines : cas de l'Hôpital l'Hôtel-Dieu de Montréal

À l'aube du XXIe siècle, à travers le réseau de la santé et des services sociaux du Québec, on assiste à l'apparition d'une nouvelle réforme. Le ministre, dans sa nouvelle politique, invite le réseau à accorder une grande attention à la gestion des ressources humaines dans l'objectif d'augmenter la qualité des services. En conséquence, tous les établissements se trouvent dans l'obligation de faire un plan de développement des ressources humaines. Toutefois, l'existence de la Loi 120 et la volonté du ministre n'étaient pas suffisantes pour passer effectivement en acte le P.D.R.H. L'objectif de cette recherche est d'explorer et de décrire les facteurs qui favorisent ou qui freinent la mise en œuvre du P.D.R.H. Nous essayons de comprendre les déterminants du succès ou de l'échec du P.D.R.H. Notre recherche exploratoire offre la possibilité de tester empiriquement la nature de la relation entre le modèle de gestion des ressources humaines et la réalisation du P.D.R.H. d'un établissement du réseau de santé et des services sociaux. Selon les résultats de notre recherche, l'organisation qui veut implanter avec succès le P.D.R.H. doit commencer par mettre en place des valeurs et une philosophie de gestion en cohérence avec le modèle renouvelé de gestion des ressources humaines. Cette réussite n'est pas uniquement conditionnée par la présence de valeurs et d'une philosophie de gestion qui sont en cohérence avec celles du P.D.R.H. Elle exige la présence préalable de certaines activités concrètes et effectives qui préparent le terrain à la mise en œuvre du P.D.R.H

A comparison of bioactive glass scaffolds fabricated by robocasting from powders made by sol-gel and melt-quenching methods

Bioactive glass scaffolds are used in bone and tissue biomedical implants, and there is great interest in their fabrication by additive manufacturing/3D printing techniques, such as robocasting. Scaffolds need to be macroporous with voids ≥100 μm to allow cell growth and vascularization, biocompatible and bioactive, with mechanical properties matching the host tissue (cancellous bone for bone implants), and able to dissolve/resorb over time. Most bioactive glasses are based on silica to form the glass network, with calcium and phosphorous content for new bone growth, and a glass modifier such as sodium, the best known being 45S5 Bioglass®. 45S5 scaffolds were first robocast in 2013 from melt-quenched glass powder. Sol-gel-synthesized bioactive glasses have potential advantages over melt-produced glasses (e.g., greater porosity and bioactivity), but until recently were never robocast as scaffolds, due to inherent problems, until 2019 when high-silica-content sol-gel bioactive glasses (HSSGG) were robocast for the first time. In this review, we look at the sintering, porosity, bioactivity, biocompatibility, and mechanical properties of robocast sol-gel bioactive glass scaffolds and compare them to the reported results for robocast melt-quench-synthesized 45S5 Bioglass® scaffolds. The discussion includes formulation of the printing paste/ink and the effects of variations in scaffold morphology and inorganic additives/dopants