[eng] The adoption of the common currency within a context of European fiscal systems diversity could lead to fierce tax competition. Capital income taxation is at stake. The fiscal gap on the corporate income tax between the European country is measured with the cost of capital concept. We find...

[eng] New indicators of effective exchange rates were published in the November issue of the OFCE monthly newsletter; this will be continued on a regular basis. The purpose of this note is to state the methods used to build these indicators and to present a selection of the series calculated and...

[eng] Two Decompositions of National Income in the Major OECD Countries Jérôme Henry, Jacques Le Cacheux Two alternative decompositions of national income are commonly undertaken : the division of value added amongst major actors of the production process, i.e. the distribution of gross income...

[eng] This article analyses price setting behaviour in the European automobile market, and its relation to the exchange rate. Sale price data for individual cars sold in five countries (Belgium, France, Germany, Italy and the United Kingdom) are examined. The purpose of the analysis is to...

[fre] Les réformes mises en œuvre en Russie dans le cadre de la transition vers l'économie de marchés ont engendré une détérioration sensible des conditions de vie de la population. Les hausses consécutives à la libération des prix décrétée en janvier 1992, la persistance d'une...

[eng] Elements of a new Agricultural Policy Jacques Le Cacheux et Henri Mendras The European common agricultural policy (CAP) had initially been conceived as a device to ensure the expansion of agricultural production thanks to the modernization of techniques and the intensification of...

[eng] Reforming monetary and financial institutions and mechanisms and establishing currency convertibility are two major elements in the transition process currently under way in Eastern European economies and in their opening up to world markets for goods and capital. Indeed until recently...

[eng] Change and Continuity in the Orientation of OECD Countries' Macroeconomic Policies Jean-Paul Fitoussi, Jacques Le Cacheux The current world economic situation is obviously the inheritance of the various shocks and structural changes that occurred over the past fifteen years. However,...

[eng] Due to the likely ageing of the French population over the coming decades, the future financing of the current public, « pay-as-you-go » pension system is quite worrisome. If the currently foreseen stagnation of the population materializes, a choice will have to be made between keeping...