Tresor-Economics - Trésor Info | Direction générale du Trésor

Trésor-Eco

Trésor-Economics No. 169 - Potential growth in the United States: is the weakness here to stay?

Rédigé par : DG Trésor 20 avril 2016

In the United States, the financial crisis accelerated the decline in potential growth by about 0.7 points compared with 2003-2007. Most organisations estimate U.S. potential growth at 1.5-2.0% in 2016, down from a pre-crisis average of 2.5%.Approximately 40% of the observed decline in potential growth seems due to a lesser accumulation of capital stock. The sharp downturn in investment during the... Lire la suite

Trésor-Eco

Trésor-Economics No. 168 - Impact of the oil price decline on France and the global economy

Rédigé par : DG Trésor 11 avril 2016

After remaining consistently above USD 100 per barrel from 2011 through mid-2014, oil prices have plummeted by more than 70% since the summer of 2014. The decline was initially attributed to a combination of weaker than expected global demand for crude oil and an abundant market supply. Since mid-2015 however, world oil demand has been essentially in line with expectations, and the drop appears mo... Lire la suite

Trésor-Eco

Trésor-Economics No. 167 - The world economy in spring 2016: a gradual recovery after the 2015 trough

Rédigé par : DG Trésor 08 avril 2016

In 2015, the world economy lost momentum. There were, however, strong geographic disparities. The advanced economies continued to expand, with the United States and United Kingdom posting a brisk performance. In the emerging economies, by contrast, the slowdown persisted. World activity is expected to recover by 2016 and accelerate in 2017, driven by the rebound of the emerging economies-after fiv... Lire la suite

Trésor-Eco

Trésor-Economics No. 166 - Why is world trade so weak?

Rédigé par : DG Trésor 06 avril 2016

Since the 2008-2009 financial crisis, world trade in goods and services has been struggling to regain its pre-crisis momentum. World trade growth averaged only 3% or so a year between 2012 and 2015, versus 6.7% a year between 2000 and 2008–a decrease due to weaker global economic growth and a decline in trade intensity of economic activity.Trade liberalisation and the increasing fragmentation of w... Lire la suite

Trésor-Eco

Trésor-Economics No. 165 - Initial and continuing education: the implications for a knowledge-based economy

Rédigé par : DG Trésor 22 mars 2016

Initial and continuing education play a decisive role in helping people to access the labour market by reducing unemployment risk and duration, and enabling them to obtain higher wages. In France, as in the other OECD countries, the rise in wage earnings procured by a higher-education degree greatly exceeds the cost of obtaining the degree (rate of return: 11.4%). Beyond the personal level, educat... Lire la suite

Trésor-Eco

Trésor-Economics No. 164 - Will Africa need a new "Heavily Indebted Poor Countries" Initiative?

Rédigé par : DG Trésor 18 mars 2016

The IMF and the World Bank launched the Heavily Indebted Poor Countries Initiative (HIPC) in 1996, and supplemented it in 2005 with the Multilateral Debt Relief Initiative (MDRI). The purpose of the HIPC Initiative was to organise massive relief of external public debt owed to the international financial community as a whole (international financial institutions, official bilateral creditors and p... Lire la suite

Trésor-Eco

Trésor-Economics No. 163 - Towards a better management of the fiscal stance in the euro area?

Rédigé par : DG Trésor 15 mars 2016

Since the introduction of the single currency in 1999, the fiscal policy of the euro area has consisted of the juxtaposition of national fiscal policies, largely irrespective of the overall economic conditions in the euro area. During preparations for the launch of the Economic and Monetary Union (EMU), a case was made for a coordinated approach to develop an appropriate fiscal policy at EMU level... Lire la suite

Trésor-Eco

Trésor-Economics No. 162 - Renewable energies: public policy challenges

Rédigé par : DG Trésor 11 mars 2016

Renewable energy sources (RES) are low-carbon energies available right within our borders, and as such can be of great value in addressing the challenges of climate change and energy security. In 2014, renewable energies accounted for 14.6% of France's gross final energy consumption. The French Energy Transition Act for Green Growth sets renewables targets of 23% and 32% as a share of gross final... Lire la suite

Trésor-Eco

Trésor-Economics No. 161 - The new rules for Official Development Assistance loans: what's at stake?

Rédigé par : DG Trésor 08 mars 2016

In December 2014, the High-Level Meeting of the OECD's Development Assistance Committee (DAC) approved a major reform of Official Development Assistance (ODA) loan reporting rules–the first change in over 40 years. This was a significant contribution by the OECD ahead of the international meetings held in 2015: the Addis Ababa conference on financing for development in July, and the adoption of ne... Lire la suite

Trésor-Eco

Trésor-Economics No. 160 - 30 years of modernising social relations in France

Rédigé par : DG Trésor 20 janvier 2016

Economic studies have found that effective social relations between unions and management are key to ensuring the economy runs smoothly. In surveys of the quality of labour relations, France tends to fare badly, however, although some improvement has been apparent over the last few years (see chart below).Numerous measures aimed at modernising social relations have been introduced since the 1980s,... Lire la suite