This paper provides an analysis of co-movements between real and financial variables in three new EU member countries (the Czech Republic, Hungary and Poland) and the euro area. It focuses on the co-movement between real credit granted to firms and real industrial output on the one hand, and...

This paper proposes two new coincident probabilistic cyclical indicators developed by the Bank of France in order to follow, on a monthly basis, the French economic activity. The first one is an indicator which aims at detecting the turning points of the acceleration cycle while the second one...

In this paper the use of the term “resilience” is discussed and a definition for use in quantitative studies of industrial evolution is suggested. Resilience is the ability of an industry in a region to exploit the possibilities arising from external events and adapt to thrive under new...