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France: Selected Issues

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  • International Monetary Fund

Abstract

U.S. shocks explain a large part of French output common components. This paper analyzes the economic implications of two alternative welfare financing reforms: a reduction in payroll taxes funded by an increase in consumption taxes, and the other funded by a new levy on business value added. The importance of financial market constraints and whether the recent mortgage market reform is likely to ease these constraints is assessed. Rechargeable mortgages are attractive and encourage collateralization, but bolder measures are needed to limit legal and other fees.

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  • International Monetary Fund, 2006. "France: Selected Issues," IMF Staff Country Reports 2006/390, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2006/390
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    References listed on IDEAS

    as
    1. Tehmina S. Khan, 2006. "Productivity Growth, Technological Convergence, RandD, Trade, and Labor Markets: Evidence From the French Manufacturing Sector," IMF Working Papers 2006/230, International Monetary Fund.
    2. Mr. Marcello M. Estevão & Ms. Nigar Nargis, 2002. "Wage Moderation in France," IMF Working Papers 2002/151, International Monetary Fund.
    3. Mr. Francisco d Nadal De Simone & Mr. Luc Everaert, 2003. "Capital Operating Time and total Factor Productivity Growth in France," IMF Working Papers 2003/128, International Monetary Fund.
    4. Alain N. Kabundi, 2004. "Estimation of Economic Growth in France Using Business Survey Data," IMF Working Papers 2004/069, International Monetary Fund.
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