Depuis la fin de la crise financière, les salaires allemands accélèrent sensiblement et les salaires réels progressent plus vite que la productivité du travail.... Lire la suite
Since the end of the financial crisis, salaries in Germany have increased significantly and real wages are rising faster than productivity.The buoyancy of the German labour market explains this shift in wage dynamics compared to previous trends. The unemployment rate is at a twenty-five year low and is forcing wages upwards.Following fifteen years of wage restraint, the change also reflects distri... Lire la suite
L’investissement immobilier des ménages a progressé fortement de 2000 à 2007 avant de se replier brutalement au cours de la crise de 2008-2009.... Lire la suite
Residential investment by French households grew strongly from 2000 to 2007, before dropping sharply during the 2008-2009 crisis. After a brief rebound in 2010-2011, it returned to a downward trend. By 2015, it had fallen back to its early 2000s level. This negative performance explains a large share of the GDP growth gap between France and Germany from 2008 to 2015.The 2000-2007 expansion mainly... Lire la suite
En France, le niveau élevé de la dépense publique (57,3 % du PIB en 2014) s'explique en grande partie par l'importance des régimes publics de protection sociale.... Lire la suite
In France, much of the high level of government expenditure (57.3% of GDP in 2014) can be explained by the size of government social protection systems. The benefits paid by these schemes account for half of government expenditure (€630bn in 2014, or 29.4% of GDP). Most of this expenditure takes the form of retirement pensions and healthcare insurance payments. Most of these schemes are contributo... Lire la suite
Lorsqu'un laboratoire souhaite commercialiser une nouvelle molécule, il dépose un brevet, et la commercialisation du médicament, dit « princeps », reste protégée généralement de 10 à 15 ans.... Lire la suite
When a pharmaceutical company wants to market a new molecule, it applies for a patent. The patented drug, known as the "originator" drug, is generally protected for between 10 and 15 years. After the patent expires, the pharmaceutical company no longer has the monopoly on manufacturing the drug, and can face competition from generic pharmaceutical firms. In France, whether they are made by generic... Lire la suite
Entre 2013 et 2016, l'inflation, au sens de l'indice des prix à la consommation, a été de près d'1 point plus faible que prévu dans les projets de loi de finances (PLF).... Lire la suite
Between 2013 and 2016, inflation, within the meaning of the consumer price index (CPI), was almost one percentage point lower than budget bill (PLF) projections. This can either be put down to an increased difficulty in forecasting inflation in an extraordinary economic environment (very low inflation, European Central Bank key interest rates constrained by the zero lower bound, rollout of new ins... Lire la suite