Issues on potential growth measurement and comparison: how structural is the production function approach?

This article aims to better understand the factors driving fluctuations in potential output measured by the production function approach (PFA.) To do so, the authors integrate a production function definition of potential output into a large-scale dynamic stochastic general equilibrium (DSGE) model in a fully consistent manner and give two estimated versions based on U.S. and euro-area data. The main contribution of this article is to provide a quantitative and comparative assessment of two approaches to potential output measurement, namely DSGE and PFA, in an integrated framework. The authors find that medium-term fluctuations in potential output measured by the PFA are likely to result from a large variety of shocks, real or nominal. These results suggest that international comparisons of potential growth using the PFA could lead to overstating the role of structural factors in explaining cross-country differences in potential output, while neglecting the fact that different economies are exposed to different shocks over time.Economic development ; Economic conditions

Potential output growth in several industrialised countries: a comparison

In this paper, we present international comparisons of potential output growth among several economies —Canada, the euro area, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, and the United States— for the period 1991-2004. The main estimates rely on a structural approach where output of the whole economy is described by a Cobb-Douglas function. This framework enables us to take temporal considerations into account, depending on the assumed volatility of potential output. Moreover, this study presents two original features, in other words, the construction of consistent and homogenous capital stock series, and long-run estimates including capital-deepening effects based on a stable capital/output ratio in value terms, whereas standard estimations assume a stable ratio in volume terms. Lastly, we use univariate methods as a benchmark. Even though the final estimates are obviously sensitive to each method and the assumptions made for each of them, this paper might help to understand why some economies remained below their potential growth rate during the recent period by identifying the sources of long-run potential growth. JEL Classification: C51, E32, O11, O47age of equipments, potential growth, production function, total factor productivity

Potential output growth in several industrialised countries: a comparison

In this paper, we present international comparisons of potential output growth among several economies -Canada, the euro area, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, and the United States- for the period 1991-2004, for which we construct consistent and homogenous capital stock series. The main estimates rely on a structural approach where output of the whole economy is described by a Cobb-Douglas function and Total Factor Productivity (TFP) is estimated allowing for possible breaks in the deterministic trend. The results confirm that over the considered period the potential GDP growth has been faster in the United States than in other studied countries, reflecting a combination of higher labour contribution and faster TFP growth. Overall, this paper might help to shed some light on cross-country differences in economic performance over the recent period.potential growth ; production function ; total factor productivity ; age of equipments

Semiclassical and spectral analysis of oceanic waves

In this work we prove that the shallow water flow, subject to strong wind forcing and linearized around an adequate stationary profile, develops for large times closed trajectories due to the propagation of Rossby waves, while Poincar\'e waves are shown to disperse. The methods used in this paper involve semi-classical analysis and dynamical systems for the study of Rossby waves, while some refined spectral analysis is required for the study of Poincar\'e waves, due to the large time scale involved which is of diffractive type

Potential output growth in several industrialised countries: a comparison

In this paper, we present international comparisons of potential output growth among several economies -Canada, the euro area, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, and the United States- for the period 1991-2004, for which we construct consistent and homogenous capital stock series. The main estimates rely on a structural approach where output of the whole economy is described by a Cobb-Douglas function and Total Factor Productivity (TFP) is estimated allowing for possible breaks in the deterministic trend. The results confirm that over the considered period the potential GDP growth has been faster in the United States than in other studied countries, reflecting a combination of higher labour contribution and faster TFP growth. Overall, this paper might help to shed some light on cross-country differences in economic performance over the recent period.Nous présentons dans cet article une comparaison internationale de croissance potentielle entre plusieurs économies - Canada, zone euro, France, Allemagne, Italie, Royaume-Uni et Etats-Unis- sur la période 1991-2004, pour lesquelles nous construisons des séries cohérentes et homogènes de stock de capital. Les principaux résultats des estimations reposent sur une approche structurelle dans laquelle la production d'une économie est décrite par une fonction de production Cobb-Douglas et une productivité globale des facteurs (PGF) estimée autour d'une tendance déterministe susceptible de présenter des ruptures. Les résultats confirment que sur la période d'investigation, la croissance potentielle a été plus rapide aux Etats-Unis que dans les autres économies considérées, combinant une plus forte contribution de l'emploi et une croissance de la PGF plus rapide. De plus, ce papier permet de mettre en lumière des différences internationales de performance économique sur la période récente

Les Costes-Gozon – Château

Lien Atlas (MCC) :http://atlas.patrimoines.culture.fr/atlas/trunk/index.php?ap_theme=DOM_2.01.02&ap_bbox=2.743;43.986;2.850;44.041 Fig 01 Couloir desservant les salles. Fig 02 Porte d’accès depuis la plate-forme de la chapelle La Commune des Costes-Gozon souhaite mettre en valeur le château des Seigneurs de Gozon, élément patrimonial actuellement en ruine et difficilement accessible au public. Une première intervention sur le site, en 2012, nous avait permis de dresser un plan du bâtiment t..

Aubin – Le Fort

Lien Atlas (MCC) :http://atlas.patrimoines.culture.fr/atlas/trunk/index.php?ap_theme=DOM_2.01.02&ap_bbox=2.201;44.498;2.305;44.564 Les vestiges du fort se développent au sommet et sur les flancs d’une arête rocheuse surplombant au nord l’agglomération d’Aubin, dans le bassin minier de l’Aveyron. La configuration et le nivellement du terrain ont permis l’implantation et le développement de « cases-encoches », essentiellement sur le côté est du promontoire. Un château est attesté dès 961. Il e..

Bozouls – Château

Lien Atlas (MCC) :http://atlas.patrimoines.culture.fr/atlas/trunk/index.php?ap_theme=DOM_2.01.02&ap_bbox=2.647;44.419;2.782;44.526 Le service départemental d’archéologie du Conseil Général de l’Aveyron a effectué un diagnostic archéologique sur le territoire de la commune de Bozouls, en amont de l’aménagement d’une maison individuelle et sur prescription du SRA. Localisé dans le périmètre supposé du château médiéval, et plus particulièrement contre le mur interprété comme le rempart de celui-..

Millau – Site de hauteur de la Granède

Dans le cadre d’un complément d’information à la publication du site de la Granède pour sa phase d’occupation du haut Moyen Âge et tout particulièrement celle de l’implantation d’une église paléochrétienne et d’un espace funéraire associé, les campagnes de 2013 et 2015 ont porté sur les dispositifs défensifs contrôlant l’accès au site. En effet, la bande de terre reliant le promontoire rocheux, sur le sommet duquel se développe l’occupation humaine, au plateau du Larzac, a connu l’implantatio..

Assessment of field rolling resistance of manual wheelchairs

This article proposes a simple and convenient method for assessing the subject-specific rolling resistance acting on a manual wheelchair, which could be used during the provision of clinical service. This method, based on a simple mathematical equation, is sensitive to both the total mass and its fore-aft distribution, which changes with the subject, wheelchair properties, and adjustments. The rolling resistance properties of three types of front casters and four types of rear wheels were determined for two indoor surfaces commonly encountered by wheelchair users (a hard smooth surface and carpet) from measurements of a three-dimensional accelerometer during field deceleration tests performed with artificial load. The average results provided by these experiments were then used as input data to assess the rolling resistance from the mathematical equation with an acceptable accuracy on hard smooth and carpet surfaces (standard errors of the estimates were 4.4 and 3.9 N, respectively). Thus, this method can be confidently used by clinicians to help users make trade-offs between front and rear wheel types and sizes when choosing and adjusting their manual wheelchair.This material was based on work supported by the SACR-FRM project, French National Research Agency (ANR-06-TecSan-020) and the Centre d’Etudeset de Recherche sur l’Appareillage des Handicapés (loaned all MWCs required to fulfill this work