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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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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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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

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Analysis of The Vulnerability of French Imports

Rédigé par : A. Aubert, C. Bonneau, R. Faquet, C. Hida

This working paper presents a methodology for assessing the vulnerability of French supplies, which is then applied to metal products that are critical inputs for industry. In particular, the study uses the characteristics of companies importing vulnerable products to measure the exposure of different sectors and the resilience of the productive system to a shortage of these products, based on the... Lire la suite

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Which industrial firms make decarbonization investments?

Rédigé par : DG Trésor

This working paper seeks to identify the drivers of decarbonization investments by industrial firms in France between 2013 and 2018. The adoption of decarbonization technologies increases with firm size, energy intensity, productivity, and inclusion in the ETS, and decreases with firm age. Among firms investing in decarbonization, the size of the decarbonization investments is determined by firms’... Lire la suite

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Live and (don't) let die: The impact of Covid-19 and public support on French firms

Rédigé par : Benjamin Hadjibeyli, Guillaume Roulleau, Arthur Bauer

Within the framework of the Coeuré Committee, the French Treasury has developed a microsimulation tool which allows to estimate the impact of the crisis, and of public measures taken in response, on the financial health of French firms. Results show that firms’ financial health has deteriorated in 2020 compared to a year without crisis, but that public support – mostly the short-time work scheme a... Lire la suite

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Document de Travail n° 2016/03 - Are exchange rates driven by global or local factors?

Rédigé par : DG Trésor

This working paper is the sole responsibility of the author. It is circulated in order to stimulate debate and to encourage comments and criticism.This paper uses factor analysis to present an original explanation of floating exchange rate movements. I estimate the shares of domestic and external drivers of these evolutions and find that external common factors are the main drivers of exchange rat... Lire la suite

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Document de Travail n° 2016/01 - Concessional finance and ODA reporting of long term financial instruments

Rédigé par : DG Trésor

This working paper is the sole responsibility of the author. It is circulated in order to stimulate debate and to encourage comments and criticism.The rather unclear DAC definition of concessionality has created intense debate among DAC members and beyond. The 10% discount rate is not grounded on a sound definition, and the concessionality in character criterion, namely that interest rates on loan... Lire la suite

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Document de Travail n° 2013/04 - Financial incitatives and labor market duality

Rédigé par : DG Trésor

This working paper is the sole responsibility of the author. It is circulated in order to stimulate debate and to encourage comments and criticism.The French labor market is divided between workers in permanent jobs and those who alternate fixed-term contracts with unemployment spells. Among other public policies aiming at reducing this duality, financial incentives could induce employers to lengt... Lire la suite

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Document de Travail n° 2013/03 - Presentation of the Institutional Profiles Database 2012 (IPD 2012)

Rédigé par : DG Trésor

This working paper is the sole responsibility of the author. It is circulated in order to stimulate debate and to encourage comments and criticism.This document presents the Institutional Profiles Database (IPD) 2012. The IPD provides an original measure of countries’ institutional characteristics through composite indicators built from perception data.... Lire la suite