France: Selected Issues

International Monetary Fund

No 2004/346, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper on France underlies public intervention in financial markets. Econometric analysis indicates that in the long term, consumption tracks disposable income closely but is also affected by wealth effects. A counterfactual exercise suggests that a lower return to experience could be responsible for lower early wage growth in France. Increased training could enhance the employment experience of the low-skilled young worker in France provided that its cost is shared between the employer and the employee.

Keywords: ISCR; CR; wage; wage growth; rate; experience profile; property income; credit rate; durables consumption; wage profile; equilibrium consumption path; wealth effect; Policy rate; Consumption; Central bank policy rate; Income; Wages; Disposable income; Southern Europe; Europe (search for similar items in EconPapers)
Pages: 103
Date: 2004-11-03
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Citations: View citations in EconPapers (1)

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