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
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
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
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
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
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
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
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
Air transport contributes to France’s economic activity but generates substantial negative externalities, especially climate-related ones. It is subject to specific pricing at national, European and international levels. This paper compares the external costs and pricing arrangements in order to assess coverage of these costs by existing instruments. It flags up average under-pricing for use, part... Lire la suite
Following Sri Lanka’s default on its external debt in April 2022, official bilateral creditors developed an original coordination mechanism to restructure the country’s debt. France, India and Japan co-chaired an ad-hoc Official Creditor Committee including the Paris Club, India and Hungary. At the same time, a flexible coordination arrangement with China and regular discussions with private credi... Lire la suite