La crise mondiale et celle, plus récente, dans la zone euro ont eu tendance à raccourcir l’horizon prévisionnel et décisionnel de nombreux agents économiques. Dans le même temps, les incertitudes (sur l’emploi, les retraites…) poussent plutôt à la remontée du taux d’épargne des...

The economic crisis which began in 2008 caused a decline of global savings, while emerging and developed economies have considerable needs in long-term investments. In France, three fields are identified: integrating young people into the labour market and financing their projects, supporting...

The effect of debt on private investment is theoretically undetermined. Indeed, according to the theory, the relation between debt and private investment can either be negative (debt overhang) or positive (accelerator effect on economic growth, hence on private investment). Our study consists in...

In many poor countries, the problem is not that governments do not invest, but that these investments do not create productive capital. So, the cost of public investments does not correspond to the value of the capital stocks. In this paper, we propose an original non parametric approach to...

The authors provide various estimates of the government net capital stocks for a panel of 26 developing countries over the period 1970-2001. Two kinds of internationally comparable series of public capital stocks are presented. The first estimates are based on the standard perpetual inventory...

This paper analyses the effects of transitory increases in government spending when public debt is used as liquidity by the private sector. Aggregate shocks are introduced into an incomplete-market economy where heterogenous, infitely-lived households face occasionally binding borrowing...

The French family policy targets three objectives: ensuring a minimum standard of living for every child, providing families with the same standard of living than people without children, promoting female employment. Although the French family policy has been successful in terms of fertility...

According to several recent analyses, French pensioners benefit from tax expenditures of around €11 billion; abolishing these tax deductions would allow to finance pensions and long-term care expenditures. The paper shows that tax expenditures benefiting pensioners (€12.5 billion euro, i.e....