The French economy weathered global crisis better than most of its peers. The authorities have taken important policy actions to stabilize the financial system and have implemented suitable fiscal stimulus to cushion the downturn. Executive Directors welcomed the policy, which aims to strengthen...

This paper presents an overview of the different methodologies that can be used to measure the amount of available slack in an economy. A comparison of these alternatives reveals that the evolution of the Nairu is crucial for understanding recent cyclical developments in the French economy. A...

This paper analyzes a broad range of price and nonprice indicators to assess developments in the international competitiveness of the French economy during the 1980s and early 1990s. The paper provides a brief review of conceptual issues concerning the competitiveness indicators used in this...

This Selected Issues paper analyzes developments and issues in banking and financial markets in France. The paper provides an overview of the transition from a state-directed to a market-based financial system. It adopts a comprehensive approach and discusses the outcome of this transition in...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This note estimates potential output for France during 1980–2010, using three distinct approaches, and discusses long-term growth prospects. The focus on capital taxation highlights the need for a broader reform of the French tax system to address the features that hamper job growth,...

This Selected Issues paper and Statistical Appendix presents a set of generational accounts to contribute to the assessment of France’s long-term fiscal position. The generational accounting framework is outlined, followed by a discussion of its major limitations. The specific case of France,...

Domestic demand is expected to remain the engine of growth in France, with net exports playing a minor role in the near term. Risks to the outlook are tilted to the downside. Boosting potential growth requires a comprehensive strategy. The consolidation targets set out in France’s Stability...

This 1999 Article IV Consultation highlights that the economic recovery in France—which began hesitantly in the mid-1990s—strengthened in the first half of 1998 when internal demand became the driving force in a setting of price stability, strong competitiveness, and falling interest rates....

France’s economic short-term outlook is positive, and long-term prospects have improved. Fiscal adjustment remains high on the government’s agenda. Tax reforms have improved the economy’s growth potential. Reforms in financial, labor, and product markets are necessary to boost job...