Labour, goods and service markets

Post n°269
Published on 05/13/2022

So far in 2022, industry-level wage bargaining has generally resulted in wage increases of around 3% compared with rises of close to 1% in recent years. Inflation, which has been higher since the end of 2021, and the recent hike in the national minimum wage (NMW) are contributing to this stronger growth in negotiated wages.

Chart 1: Change in negotiated wages, the NMW and inflation (year-on-year % change)
Chart 1: Change in negotiated wages, the NMW and inflation (year-on-year % change) Source : INSEE (consumer price index – all households, and NMW), Banque de France (300 national, regional and departmental industries – private sector – wage floors).
Post n°267
Published on 04/28/2022

Rich households consume digital goods more intensively than poor households. As digitalisation makes some goods and services cheaper, higher-income households benefit more. Using US household data, this blog argues that the relative price effect of digitalisation is sizeable and amplifies the effects that digitalisation has on income inequality.

Chart 1: ICT intensity of consumption basket along the income distribution in the US
Chart 1: ICT intensity of consumption basket along the income distribution in the US Source: Arvai and Mann (2021) Note: The graph shows the share of information and communication technology (ICT) in the consumption basket by income percentile for different sub-periods.
Post n°259
Published on 03/08/2022

In several sectors, including academic economics, considerable efforts have been made over at least the past two decades to combat gender discrimination. One of the most frequently debated policies over recent years has been positive discrimination. Hiring or promoting an equally qualified woman over a man is argued to have a positive impact on all individuals in the profession as it will reduce prejudice and provide role models for younger women. Despite these efforts, women still appear to be vastly underrepresented amongst researchers in economic and earn far less credit than men for their academic work.

Figure 1: Proportion of female economists according to RePEc
Chart 1: Proportion of female economists according to RePEc Source: RePEc, Female representation in Economics and academic Rankings by country and for the world, as of February 2022.
Post n°258
Published on 03/03/2022

By Cristina Jude, Antoine Lalliard and Pierre Sicsic.

The employment rate in France has exceeded the level reached at end-2019. This is a French particularity. It nevertheless remains low compared to other countries, in particular for young workers and men over 60. Its growth over the past twenty years had been slower than in the other major countries until recently.

Chart 1: Employment rate deviations from Q4 2019
Chart 1: Employment rate deviations from Q4 2019 Source: Eurostat & BLS
Post n°254
Published on 02/02/2022

By Antonin Bergeaud, Jean-Benoît Eymeoud, Thomas Garcia and Dorian Henricot

Corporate real estate market participants are starting to adjust to the take-off of teleworking in France. We show that teleworking already has an impact on the office real estate market. In French départements more exposed to teleworking, the Covid-19 crisis has led to higher vacancy rates, less construction, and lower prices. Forward-looking indicators suggest that market participants are expecting a lasting shift towards teleworking.

Chart 1a: Teleworking index by département
Chart 1a: Teleworking index by département Source: Bergeaud et al., 2021
Post n°230
Published on 10/01/2021

By Daniele Siena and Riccardo Zago 

The occupational composition of the labour market is important for the relationship between prices and unemployment, i.e. the Phillips Curve (PC). The decline of the share of routine jobs can explain 1/4 of the recent flattening of the PC in the European Monetary Union (EMU).

Chart 1: The Slope of the Phillips Curve and Job Polarisation
Chart 1: The Slope of the Phillips Curve and Job Polarisation Note: This chart plots the slope of the price PC (1.a) and the routine employment share (1.b) across the EMU. Grey areas represent recessions, blue areas are the 95% confidence interval.
Post n°220
Published on 06/18/2021

By Thomas Ferrière and Dorian Henricot

The price dynamics of corporate and residential real estate are highly correlated in France, both historically and geographically. The health crisis is firstly an asymmetrical shock affecting primarily the demand for corporate real estate. Nevertheless, we show that a fall in prices in this sector could affect residential property prices, particularly in areas where supply is most constrained.

Chart 1: annual growth of office and residential real estate prices as a national average, and distribution by département.
Chart 1: annual growth of office and residential real estate prices as a national average, and distribution by département.
Post n°207
Published on 03/08/2021

The Covid-19 crisis has had a profound impact on the organisation of labour. Women have been on the front line both in tackling the virus and in looking after their family and relatives in these difficult times. Their participation in the labour market has not been significantly affected, thanks both to public aid policies and to their efforts in balancing their professional and private responsibilities.

Chart 1: Change in the employment rate by gender, comparison between the Great Recession and the Covid crisis – Q4 2008 and 2019 = 100
Chart 1: Change in the employment rate by gender, comparison between the Great Recession and the Covid crisis – Q4 2008 and 2019 = 100 Source: INSEE. Key: The female employment rate fell by 0.3 percentage point between Q4 2019 and Q1 2020.
Post n°202
Published on 02/03/2021

By Jérémi Montornès and Marie-Baïanne Khder

The authors belonged to the Economic Studies and National Accounts Directorate at Insee when they wrote the article from which this blog post is derived. The authors would like to thank D. Blanchet for his helpful comments when writing the article. They remain solely responsible for any errors and omissions.

Irish GDP growth over the recent period has been strongly influenced by transfers from US multinationals. These transactions have increased since 2015. Changes in Irish GDP and its components now reflect multinationals’ choice of location in addition to cyclical fluctuations.

Chart 1: Quarterly changes in GDP and GNI in volume  (in %, adjusted for seasonal and working day variations)
Chart 1: Quarterly changes in GDP and GNI in volume (in %, adjusted for seasonal and working day variations) Source: Central Statistics Office (CSO), national accounts
Post n°199
Published on 01/12/2021

By Antonin Bergeaud and Simon Ray

The health restrictions put in place in France and the rest of Europe have obliged firms and workers to resort to teleworking on a massive scale. By breaking down some of the existing barriers to home-working, this shock will probably mark a turning point in the use of teleworking. This in turn has major implications for workers, businesses and the economy.

Chart 1:  Cross-department heterogeneity in potential for teleworking
Chart 1: Cross-department heterogeneity in potential for teleworking Source: DADS, Dingel and Neiman (2020) and DARES (2019)

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