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The Financial Situation of the Defence Technological and Industrial Base Since the Onset of the War in Ukraine

Rédigé par : Quentin Bon, Jean de Livonnière, Raphaël Lafrogne-Joussier

Since 2021, the financial situation of DTIB companies has improved, with increasing profit margins and investment, larger returns and shrinking debt levels. However, they still need to address a significant cash flow requirement and long payment lead times. Increased defence spending and an expansion of financing opportunities could consolidate this improvement and boost business activity.... Lire la suite

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Beyond Health Impacts: the Heavy Economic Toll of Air Pollution

Rédigé par : DG Trésor

Air pollution is a major public health issue. But recent economic research has also highlighted its effects on economic activity, in addition to its well-documented health impacts. It reduces workers’ physical and cognitive abilities, thereby lowering productivity. It also risks undermining future productivity by impairing academic performance and innovation. This paper gives an overview of this m... Lire la suite

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The Swiss High-Price Island

Rédigé par : Martin Albouy, Gilles Bordes

Switzerland is roughly 60% more expensive than its neighbouring countries. Consumer prices – particularly for services – are more affected by this than investment prices. This high-price island reveals a two-sided economy: very productive exporting sectors with high wages, and a domestic sector forced to bring itself up to the level of the former, raising prices in the long term. This model contin... Lire la suite

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Lessons from Past Industrial Policies

Rédigé par : B. Alvarez, Ch. Gallezot, Cl. Hida, G. Mouilleseaux

International industrial policy takeaways since 1945 suggest that the identification of market opportunities, competition between players and technology options, and maintaining high performance standards are important factors for success. In France, industrial policy stands out for the significance of vertical interventions and the focus on a small number of large firms.... Lire la suite