Governance traditions and narratives of public sector reform in contemporary France.

This article explores the basic traditions of governance in contemporary France and the narratives of public sector reform associated with them. It should be stressed right from the outset that this article does not aim to describe the set of public sector reforms that have been implemented in France in the last ten years or so. Instead, the aim is to demonstrate the similarities and differences between the narratives of the left and the right with regard to these reforms and to show how these narratives help to explain the types of reform that have been enacted. The basic argument is that there is a certain commonality to both the left and the right with regard to their narratives of public sector reform. At the same time, though, there are differences of emphasis both within each tradition and between the two main traditions themselves. Except where indicated, all translations are the author's own

Crash risk in currency markets

Abstract Since the Fall of 2008, out-of-the money puts on high interest rate currencies have become significantly more expensive than out-of-the-money calls, suggesting a large crash risk of those currencies. To evaluate crash risk precisely, we propose a parsimonious structural model that includes both Gaussian and disaster risks and can be estimated even in samples that do not contain disasters. Estimating the model for the 1996 to 2014 sample period using monthly exchange rate spot, forward, and option data, we obtain a real-time index of the compensation for global disaster risk exposure. We find that disaster risk accounts for more than a third of the carry trade risk premium in advanced countries over the period examined. The measure of disaster risk that we uncover in currencies proves to be an important factor in the cross-sectional and time-series variation of exchange rates, interest rates, and equity tail risk

Combining quantitative and qualitative models to identify functional groups for monitoring changes in the Bay of Biscay continental shelf exploited foodweb

To develop and implement ecosystem-based management, it is critical to monitor foodweb components or functional groups which are robust to uncertainty in ecosystem structure and functioning yet sensitive to changes. To select such functional groups for the Bay of Biscay continental shelf, both quantitative and qualitative foodweb models were developed. First, functional groups for which predictions of directions of change following an increase in primary productivity, prey or predators, or in fishing activities were identical across alternative qualitative model structures were identified. Second, the robustness to model type was assessed by comparing qualitative predictions with quantitative Ecopath model results. The demersal fish community was identified as a sensitive and robust indicator for monitoring foodweb ecological status in the Bay of Biscay. The present study also suggested the potential antagonistic effects of alternative management measures on small pelagic fish and highlighted the need for the joint management of all pressures

High-resolution optical imaging of single magnetic flux quanta with a solid immersion lens

Magneto-optical imaging of quantized magnetic flux tubes in superconductors-Abrikosov vortices-is based on Faraday rotation of light polarization within a magneto-optical indicator placed on top of the superconductor. Due to severe aberrations induced by the thick indicator substrate, the spatial resolution of vortices is usually well beyond the optical diffraction limit. Using a high refractive index solid immersion lens placed onto the indicator garnet substrate, we demonstrate wide field optical imaging of single flux quanta in a Niobium film with a resolution better than 600 nm and sub-second acquisition periods, paving the way to high-precision and fast vortex manipulation. Vectorial field simulations are also performed to reproduce and optimize the experimental features of vortex images.Manipulation optique de quanta de flux individuels dans les supraconducteurs et application