This study of the rise and decline of industrialization in the Bas-Languedoc region of France uses a 200-year time-frame to examine the process of how and why a successful industrial region manufacturing woollens transformed itself into an agricultural, wine-growing area

The paper uses capital and labor utilization rates to derive estimates of the Japanese output gap and potential output. Two techniques are used. The first uses the cyclical indicators to adjust potential output estimates derived from a Hodrick- Prescott filter over the most recent period when...