France: Selected Issues

October 31, 2006

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International Monetary Fund. "France: Selected Issues", IMF Staff Country Reports 2006, 390 (2006), accessed July 18, 2025, https://doi.org/10.5089/9781451813692.002

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Summary

U.S. shocks explain a large part of French output common components. This paper analyzes the economic implications of two alternative welfare financing reforms: a reduction in payroll taxes funded by an increase in consumption taxes, and the other funded by a new levy on business value added. The importance of financial market constraints and whether the recent mortgage market reform is likely to ease these constraints is assessed. Rechargeable mortgages are attractive and encourage collateralization, but bolder measures are needed to limit legal and other fees.

Subject: Consumption taxes, Economic theory, Employer contributions, Financial institutions, Labor taxes, Mortgages, Supply shocks, Taxes

Keywords: Consumer confidence, Consumption, Consumption taxes, CR, Current account, Employer, Employer contributions, Europe, Exchange rate, Firm, Global, Home equity, Housing loan, ISCR, Labor taxes, Monetary policy, Mortgages, Supply shocks, Terms of trade, U.S.-driven demand shocks, USA supply shock

Publication Details

Pages:

121
Volume:

2006
DOI:

https://doi.org/10.5089/9781451813692.002
Issue:

390
Series:

Country Report No. 2006/390
Stock No:

1FRAEA2006002
ISBN:

9781451813692
ISSN:

1934-7685

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