European Business Fluctuations in the Austrian Framework

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures. In this respect, we propose to link long-term growth cycles to various short-term interest rate gaps. Are European Business Cycles affected when a fall in the money market rate disrupts agents’ expectations of inflation? Using the hypothesis that individual speculation is motivated by the difference between short-term real interest rates and their natural levels, we argue that Wicksellian interest rate gaps can account for a high proportion of long-term fluctuations in 4 European countries (Germany, France, Italy and Spain). We present specific dating methods and filters used in order to distinguish between short-term and long-term growth cycles. The Wicksellian incentives we constructed are then significantly linked to long-term business fluctuations. Under the hypothesis of adaptive expectations of inflation, our results are enhanced.European Growth Cycles Inflation Expectations

European Business Fluctuations in the Austrian Framework

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures. In this respect, we propose to link long-term growth cycles to various short-term interest rate gaps. Are European Business Cycles affected when a fall in the money market rate disrupts agents’ expectations of inflation? Using the hypothesis that individual speculation is motivated by the difference between short-term real interest rates and their natural levels, we argue that Wicksellian interest rate gaps can account for a high proportion of long-term fluctuations in 4 European countries (Germany, France, Italy and Spain). We present specific dating methods and filters used in order to distinguish between short-term and long-term growth cycles. The Wicksellian incentives we constructed are then significantly linked to long-term business fluctuations. Under the hypothesis of adaptive expectations of inflation, our results are enhanced

Hologaster mohelianus Quentin & Villiers, 1979 : un nouvel Obriini pour la faune de Mayotte (Coleoptera : Cerambycidae)

Cette courte note a pour objet l’étude d’un Obriini provenant de Mayotte : Tsoundzou 2, Mayotte, 5.I.2002, une femelle, MHN RUN Ins. – 5544, Muséum d’Histoire Naturelle de La Réunion (Nicolas Cliquennois leg.

Contribution à l’inventaire des mantes des îles Eparses (Dictyoptera : Mantidae)

Résumé : Une série de missions menées par le Muséum d’Histoire naturelle de La Réunion permet d’établir le premier inventaire des mantes des îles Eparses.Abstract : A series of expeditions led by the Muséum d'Histoire naturelle de La Réunion allows us to draw up the first list of the Scattered island mantises.Mots-clés : océan Indien, Terres Australes et Antarctiques Françaises.Keywords: Indian Ocean, French Southern and Antarctic Lands

Erionota thrax (L., 1767), une nouvelle espèce introduite à La Réunion ? (Lepidoptera, Hesperiidae)

Le 22 novembre 2016, à Saint-André, commune du Nord-Est de l'île de la Réunion, Erionota thrax (L., 1767) est observé pour la première fois à la Réunion

European Business Fluctuations in the Austrian Framework

The Austrian theory mainly deals with analyzing the effects of an increased credit offer on productive structures. In this respect, we propose to link long-term growth cycles to various short-term interest rate gaps. Are European Business Cycles affected when a fall in the money market rate disrupts agents’ expectations of inflation? Using the hypothesis that individual speculation is motivated by the difference between short-term real interest rates and their natural levels, we argue that Wicksellian interest rate gaps can account for a high proportion of long-term fluctuations in 4 European countries (Germany, France, Italy and Spain). We present specific dating methods and filters used in order to distinguish between short-term and long-term growth cycles. The Wicksellian incentives we constructed are then significantly linked to long-term business fluctuations. Under the hypothesis of adaptive expectations of inflation, our results are enhanced

Quantum turbulence simulations using the Gross-Pitaevskii equation: high-performance computing and new numerical benchmarks

This paper is concerned with the numerical investigation of Quantum Turbulence (QT) described by the Gross-Pitaevskii (GP) equation. Numerical simulations are performed using a parallel (MPI-OpenMP) code based on a pseudo-spectral spatial discretization and second order splitting for the time integration. We start by revisiting (in the framework of high-performance/high-accuracy computations) well-known GP-QT settings, based on the analogy with classical vortical flows: Taylor-Green (TG) vortices and Arnold-Beltrami-Childress (ABC) flow. Two new settings are suggested to build the initial condition for the QT simulation. They are based on the direct manipulation of the wave function by generating a smoothed random phase (SRP) field, or seeding random vortex rings (RVR) pairs. The new initial conditions have the advantage to be simpler to implement than the TG and ABC approaches, while generating statistically equivalent QT fields. Each of these four GP-QT settings is described in detail by defining corresponding benchmarks that could be used to validate/calibrate new GP codes. We offer a comprehensive description of the numerical and physical parameters of each benchmark. We analyze the results in detail and present values, spectra and structure functions of main quantities of interest (energy, helicity, etc.) that are useful to describe the turbulent flow. Some general features of QT are identified, despite the variety of initial states.Comment: 61 pages, 21 figure