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Barriers to Migration in the European Union: Does Joining the Union Lead to Lower Barriers?

Rédigé par : Cyprien Batut

This working paper examines the impact of EU membership on migration in Europe. It takes up and extends the analyses of Head & Mayer (2021) on migration frictions. It confirms their results but suggests that the liberalisation they estimate in the 1960s needs to be qualified, and that the subsequent stagnation may be due to a composition effect. A contingency analysis shows that a country's entry... Lire la suite

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Trésor-Eco

How Does the European Union’s Carbon Market Impact Firm Productivity?

Rédigé par : DG Trésor

The European Union Emissions Trading System (EU ETS) was created in 2005 to reduce greenhouse gas emissions from emitting sectors in the EU. Its impact on productivity is unclear, however, as it imposes constraints on production processes. This paper shows that the EU ETS was not detrimental to firm productivity from 2005 to 2017, despite heterogeneous effects depending on factors such as a firm’s... Lire la suite

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Trésor-Eco

Quel effet du marché carbone européen sur la productivité des entreprises ?

Rédigé par : Ariane Alla

Le système européen d'échange de quotas d'émission a été créé en 2005 afin de réduire les émissions de gaz à effet de serre des secteurs émetteurs de l’UE. Son effet sur la productivité est cependant ambigu car il contraint les processus de production. Nous démontrons que le SEQE n’a pas nui à la productivité des entreprises de 2005 à 2017, malgré des effets hétérogènes selon la productivité initi... Lire la suite

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Article

Are low-income households sensitive to tax incentives for energy efficiency investments?

Rédigé par : Pauline Bouisset, Robert Benda, Anna Bornstein

The 2015 tax credit rate increase on renovation investments has lead to a larger proportion of low-income households to renovate. The impact of this reform increases, among low-income households, with income, with the size and the age of the dwelling, and is larger for owners of single household dwelling units.... Lire la suite

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Trésor-Eco

An indicator of the financial cycle in France since the beginning of the 2000s

Rédigé par : Riccardo Russo

The financial crisis of 2008-2009 underlined the importance of preserving financial stability, highlighting the need for new indicators to better understand the evolution of financial risks. Regulators and academics have developed the concept of the financial cycle to measure these vulnerabilities. In this study, DG Treasury presents indicators describing the evolution of the financial cycle for F... Lire la suite

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Trésor-Eco

Un indicateur du cycle financier en France depuis le début des années 2000

Rédigé par : Riccardo Russo

La crise financière de 2008-2009 a souligné l’importance de préserver la stabilité financière, mettant en lumière la nécessité de nouveaux indicateurs permettant de mieux comprendre l’évolution des risques financiers. Les autorités de régulation et le monde académique ont développé le concept de cycle financier pour mesurer ces vulnérabilités. Dans cette étude, la DG Trésor présente des indicateur... Lire la suite

Miniature
Article

European Union's Emissions Trading System and Productivity: Firm-Level Evidence for France, Italy and Spain

Rédigé par : Ariane Alla

This working paper seeks to study the effect of the European Union Emissions Trading System on total factor productivity for manufacturing firms in France, Italy and Spain, from 2000 to 2017. As a general rule, the instrument is not found to be detrimental to regulated firms’ productivity. However, firms have reacted differently depending on their initial efficiency, size, financial constraints, s... Lire la suite