Tresor-Economics

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The Economic Impact of the Performance Levels of the French Education System

The academic results of students in France are deteriorating over time and compared with other countries, and are strongly affected by social factors and gender. Yet improving educational performance levels would be a source of long-term growth for the French economy. Assessment of education policies identifies the most effective actions and shows, in particular, the significant impact on academic... Lire la suite

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The Outcomes and Objectives of Apprenticeships in France

Apprenticeship has grown sharply in popularity since 2018, driven by the deregulation of the system and increased government funding. Their growth has come alongside more diverse profiles, with apprentices often studying in higher education and more employers operating in the service sector. Apprenticeship facilitates the school-to-work transition, particularly at the occupational certification an... Lire la suite

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The Role of Carbon Credits in Financing Global Climate Goals

Carbon credits, instruments that raise private-sector funding for decarbonisation projects, are subject to regulatory initiatives to ensure their quality and limit the risk of greenwashing. Their use to foster climate cooperation among countries is under discussion: it is on the agenda at the COP30 summit, in the context of efforts to create an international carbon credit trading mechanism. Carbon... Lire la suite

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Geopolitical Fragmentation of Trade

At a time of heightened geopolitical tensions, economic exchanges between nations are increasingly governed by a bloc-based approach. We are witnessing a reorganisation of trade between groups of geopolitically aligned countries, i.e. a geopolitical fragmentation of trade. This fragmentation began with the annexation of Crimea in 2014 and accelerated with Russia’s invasion of Ukraine in 2022.... Lire la suite

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Understanding Pathways Following Exhaustion of Unemployment Benefits

Approximately one-fifth of unemployment benefit outflows are due to benefits exhaustion. Although a large proportion of these former recipients find long-term employment in the year following the end of their entitlement to unemployment benefits, other pathways point to harder integration into employment. Administrative data is used to reconstitute and understand these pathways, correlating waged... Lire la suite

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The Social and Solidarity Economy: a Solution to Democratic, Social and Environmental Challenges?

This study presents the social and solidarity economy’s coverage and principles (social utility, democratic governance and low profits), measures its weighting in the French economy with regard to employment and value added, and analyses the sector’s challenges. It also explores the development of impact finance, the SSE’s local, environmental and democratic role, and the public leverage (social e... Lire la suite

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Examining the Composition of VAT Revenues in France

Value added tax (VAT) is the largest source of tax revenue in France, standing at €202.7bn under budgetary accounting and representing 17% of the total tax burden in 2022. To examine the composition of VAT revenues, the French Treasury used a costing model that reconstitutes consumption bases subject to VAT. We then used these results to estimate the net revenue gain from a 1-percentage-point incr... Lire la suite

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World Economic Outlook in Autumn 2025: Global Economy Hampered by an Adverse Trade Environment

The global economic outlook has been revised downwards from spring forecasts as the global economy continues to reel from US tariffs and an uncertain environment. Growth trends are set to vary among advanced economies, while growth is expected to slow down in emerging economies which should continue nonetheless to drive global growth. Trade policy is still the main downside risk to the economic fo... Lire la suite

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The Attention Economy in the Digital Age

Digital firms in the attention economy use business models that monetise consumer attention. Although this generates economic activity, it has negative externalities for users and society that can affect GDP (e.g. due to a decline in cognitive abilities). To reduce these externalities, regulators have several options at their disposal, such as reining in the most harmful features of platforms.... Lire la suite

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Review of the French Government’s Economic Forecasts for 2024

Amid the post-COVID return to economic normalcy in the summer of 2023, in drafting the 2024 Budget Bill the government projected that GDP growth would bounce back to 1.4%. A series of new external shocks (deterioration in the international environment, rising interest rates and uncertainty) ultimately penalised 2024 growth recovery, which was weaker than expected overall (+1.2%).... Lire la suite