The purpose of this article is to study the trends in per capita productivity in several major industrialised countries. The analysis is first based on annual data over a long period spanning the entire 20th century for the United States, France and the United Kingdom. Productivity trends are...

This paper presents a revised version of the model OPTIM, proposed by Irac and Sédillot (2002), used at the Banque de France in order to predict French GDP quarterly growth rate, for the current and next quarters. The model is designed to be used on a monthly basis by integrating monthly...

This paper introduces the new Monthly Index of Business Activity (MIBA) model of the Banque de France for forecasting France's GDP. As the previous versions, the model relies exclusively on data from the monthly business survey (EMC) conducted by the Banque de France. However, several major...

This paper quantifies the welfare costs of inflation in an endogenous growth setup when transitional dynamics are taken into account. We report much smaller costs than when these dynamics are omitted.

A large body of literature in real estate has been devoted to the correlation between prices and changes in liquidity of the market (i.e. the ability to sell and buy more or less rapidly). However the specific role of liquidity risk ñ uncertainty in time to sell ñ has not been explored yet....

A new method for estimating total housing returns at a local level is introduced. A unique and comprehensive dataset on housing price transactions for the Paris administrative region over the 1996-2008 period is combined with sets of individual panel data collected by the NSI for a survey on...

This original study examines the potential of a spatiotemporal autoregressive (STAR) approach in modelling transaction prices for the housing market in Paris and its inner suburbs. We use a data set from the Paris Region notary office (íChambre des notaires díÅ’le-de-Franceî) which...

A growing body of hedonic literature applied to the residential housing market has been developed during the last 30 years, mainly in North-America and UK. Office market has undergone several investigations in a more recent period. These studies typically have approached value indirectly through...