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Post n°313

Job-to-job flows and wage dynamics

Published on 04/06/2023

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By Clémence Berson and Elisa Busson

Job-to-job moves usually enable employees to improve their pay or working conditions. It is therefore an important factor in wage dynamics. Resignations, which often indicate a job change, can be used to forecast wage and inflation trends.

Chart 1: Changes in resignation and job-to-job rates in France
Chart 1: Changes in resignation and job-to-job rates in France Source: Dares, Insee, authors' calculations. Note: Resignations (establishments with more than 10 employees) = quarterly data; job changes = annual data (Berson et al. 2020); shaded periods = negative change in real GDP.
Updated on 04/06/2023 10:41
Post n°303

How do firms finance their investment?

Published on 02/06/2023

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By Mathias Lé and Frédéric Vinas

We analyse how French firms financed their investment over the 1992-2016 period. We show that the funding mix varied significantly according to the size of the firms, whether or not they were listed on the stock exchange and the nature of the investments undertaken. These results suggest that the Capital Market Union could foster business investment by developing equity financing.

Chart 1: Breakdown of investment financing by listed and unlisted companies (% of total financing)
Chart 1: Breakdown of investment financing by listed and unlisted companies (% of total financing)
Updated on 02/06/2023 11:16
Post n°296

Remote working: a new dynamic in the labour market?

Published on 12/12/2022

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By Pierre-Emmanuel Caplet - 2nd prize in the 2022 Eco Notepad competition - Masters student at Paris-Saclay Ecole Normale Supérieure (ENS)

Despite the pandemic’s abatement, teleworking seems to be holding steady. This new working arrangement could have several consequences for the labour market: reduced business costs; greater worker flexibility; more rapid digitalisation; and new geographical and sectoral dynamics.

Chart 1: Teleworking in 2021
Chart 1: Teleworking in 2021 Source: INSEE, Labour Force Survey, 2021. Note: Scope covers France excluding Mayotte, people living in ordinary housing, employees working at least one hour of paid work a week.
Updated on 12/12/2022 18:36
Post n°287

Climate and multilateralism: the carbon price floor option

Published on 10/18/2022

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By Lionel Fontagné, Fabio Grieco, Pierre-François Weber

An analysis of the results of the IMF’s recent simulations show that the innovative proposal for a carbon price floor leaves the questions of effort sharing between countries and carbon leakage unresolved. Consequently, further possibilities could be explored, particularly the interplay with a carbon border adjustment as well as the carbon price equivalence of regulatory measures.

Chart 1: Coverage and prices of the main international carbon pricing systems.
Chart 1: Coverage and prices of the main international carbon pricing systems. Source: World Bank. Share of annual global CO2 emissions covered by carbon pricing systems at the regional and national level with the explicit carbon prices per tonne of CO2eq of the main schemes at 1 April 2022. ETS = Emissions Trading System.
Updated on 11/02/2022 11:15
Post n°215

Income inequalities between French départments: a secular decline

Published on 05/07/2021

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By Florian Bonnet, Hippolyte d’Albis and Aurélie Sotura

Over the past century, income disparities per adult between départements have been steadily decreasing. The low-income diagonal, which used to be very marked from the north-west to the south-east, has given way to a "low population density diagonal" which now runs from the north-east to the south-west.

Chart 1. Gini coefficient of income per adult between the 90 départments, 1922-2015
Chart 1. Gini coefficient of income per adult between the 90 départments, 1922-2015 Sources: tax records and authors' calculations
Updated on 05/07/2021 17:01
Post n°203

Carbon tax: a comparison of the impact in France and the rest of Europe

Published on 02/10/2021

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By Antoine Devulder and Noëmie Lisack

How would the impact of a European carbon tax on the French economy differ from that in the rest of the EU? The medium-run impact on value added would be 20% lower in France than in the rest of the EU. This divergence would stem more from differences in the sectoral structure of the economy (the weight of those sectors most affected, inter-sectoral flows) than from differences in carbon intensity between homologous sectors.

Chart 1: Breakdown by sector of the impact on real value added in France and in the rest of the EU
Chart 1: Breakdown by sector of the impact on real value added in France and in the rest of the EU Source: Authors' calculations.
Updated on 02/10/2021 09:12
Post n°202

The impact of multinationals’ transfers on Irish GDP

Published on 02/03/2021

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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
Updated on 02/08/2021 14:25
Post n°199

The economic transformations linked to teleworking

Published on 01/12/2021

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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)
Updated on 01/12/2021 10:31
Post n°198

Teleworking: how will it affect productivity?

Published on 01/05/2021

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By Antonin Bergeaud and Gilbert Cette

Teleworking has increased sharply with the Covid-19 crisis and is likely to remain widespread in the future. This could have favourable effects on firms’ productivity, notably through the accelerated diffusion of technologies. However, the academic literature stresses that adequate preparation will be needed in order to reap the full benefits of this favourable impact.

Chart 1: Inverted-U relationship between teleworking intensity (as a proportion of working time) and productivity for two different activities Inspired by the OECD (2020)
Updated on 01/05/2021 19:10
Post n°194

Digital technologies: a source of a productivity rebound?

Published on 12/18/2020

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By Gilbert Cette, Sandra Nevoux and Loriane Py

Digital technologies are often seen as a potential vector for the third industrial revolution. This blog exploits a unique survey by the Banque de France to measure firms’ digitalisation and determine its potential impact on productivity. The use of technologies, which has been stimulated by the Covid-19 crisis, could facilitate and reinforce the economic rebound.

Chart 1: Use of ICTs and digital technologies in manufacturing in 2018
Chart 1: Use of ICTs and digital technologies in manufacturing in 2018 Sources: Survey of factor utilisation degrees and FIBEN (Banque de France). Scope: Firms for which at least one establishment belongs to the manufacturing sector and with at least 20 employees.
Updated on 12/18/2020 14:43

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