French Public Finances at Risk?

Jerome Creel, Paul Hubert and Francesco Saraceno ()
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Francesco Saraceno: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

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Abstract: Using descriptive evidence, this paper contributes to the debate on French public finances' consolidation by examining the long-term sustainability of France's fiscal position. We trace the historical trends of government's tax receipts and expenditures. We illustrate that while the level of public expenditure in France is larger than in the Euro Area, its trend is comparable to its neighbours. French net debt is comparable to Eurozone's while French net wealth remains positive. However, the French tax system is not progressive with only 6% of compulsory levies raised that way, and too complex. The paper then acknowledges the efficient debt management of French authorities. As a conclusion, we see no risk of future unsustainability linked to the nature or the level of current French public finances.

Keywords: Deficits; Debt management; Taxation (search for similar items in EconPapers)
Date: 2013-09
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03475961
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Published in Panoeconomicus, 2013, 61 (1), pp.1 - 19. ⟨10.2298/PAN1401001C⟩

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Related works:
Journal Article: French Public Finances at Risk? (2014)
Working Paper: French Public Finances at Risk? (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03475961

DOI: 10.2298/PAN1401001C

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