State-contingent debt (SCD) instruments have been proposed as an improvement to sovereign debt markets, but their issuance costs are not well understood. We estimate the SCD premium at issuance and for more than a decade thereafter, employing a quasi-twin bond strategy that uses two very similar...

In this paper, we provide systematic evidence in support of the long-standing hypothesis that taxation was an important driver of the French Revolution. We first document that areas with heavier taxes experienced more riots between 1750 and 1789 and voiced more complaints against taxation in the...

Our article analyses the quality of green jobs in France, applying a definition of green jobs that has emerged in recent years to the French labour force survey - a large, representative dataset. Using regression and classification techniques, we find that green jobs are associated with lower...

Der vorliegende Bericht untersucht die internationale Verbreitung und strukturelle Ausprägung zweier Schlüsseltechnologien - Künstliche Intelligenz (KI) sowie alternative Antriebe und klimafreundliche Kraftstoffe - auf Basis eines webAI-gestützten Analyseansatzes. Als Datenbasis dient der...

Can collective bargaining mitigate monopsony power? This paper addresses this question by examining how the regulation of noncompete agreements for employees by collective agreements affects firm-level markdowns in the French manufacturing sector. Using a staggered difference-in-differences...

Work capability-the life opportunities afforded to people related to work-shape people's broader social vulnerability and resilience. However, the opportunity to decent work varies significantly across people and places, depending on socio-demographic characteristics, local contextual factors,...

This paper examines the impact of prohibiting the Islamic veil in schools on economic outcomes and long-run integration of Muslim women. Using a difference-in-differences design, I show that the 1994 directive instructing school principals to ban the veil in French schools led to a substantial...

This paper analyses the extensive and intensive margins of demand for a retail digital euro. We conducted a representative survey in France, Germany and Italy in November-December 2023. We find that 52-62% of respondents are willing to hold a digital euro, depending on the interest rate spread,...

This article compares insider dealing enforcement in Jordan and France to identify which combinations of substantive legal rules and institutional design produce credible deterrence in capital markets. Using a doctrinal-comparative method, the analysis evaluates (i) the legal definition of...

In recent years, a growing number of countries have enacted tax rules that require multinational enterprises (MNEs) to document their intra-firm trade prices and show that they are set as in third-party trade. The objective of these rules is to limit opportunities for strategic trade mis-pricing...

This paper disentangles the roles of within-firm improvement and between-firm selection and market reallocation in determining aggregate energy intensity. Our analysis shows that selection and market reallocation play a stronger role than within-firm improvement in driving aggregate declines in...

This paper analyses the extensive and intensive margins of demand for a retail digital euro. We conducted a representative survey in France, Germany and Italy in November-December 2023. We find that 52-62% of respondents are willing to hold a digital euro, depending on the interest rate spread,...

In this paper, we provide systematic evidence in support of the long-standing hypothesis that taxation was an important driver of the French Revolution. We first document that areas with heavier taxes experienced more riots between 1750 and 1789 and voiced more complaints against taxation in the...

The rapid expansion of global stablecoins is generating new challenges for monetary sovereignty, financial stability, and cross-border regulatory governance. This paper develops an integrated analytical framework of "risk transmission-institutional constraints-compliance response-dynamic...

We study the fiscal determinants of the French Revolution, exploiting plausibly exogenous variation in the salt tax - a large source of royal revenues and one of the most extractive forms of taxation of the Ancien Régime. Implementing a Regression Discontinuity design (RDD), we find that parts...

While artificial intelligence (AI) adoption holds the potential to enhance business operations through improved forecasting and automation, its relation with average productivity growth remain highly heterogeneous across firms. This paper shifts the focus and investigates the impact of...

This study explores how French firms use artificial intelligence, leveraging a uniquely detailed and representative dataset with information on the use of specific AI technologies and how AI systems are deployed across different business functions within firms, in 2020 and 2022. The use of AI is...