Major Future Economic Challenges

Major Futur Economic Challenges - International Commission chaired by O. Blanchard and J. Tirole
	Foreword
		Scope
		Team
		Commission’s modus operandi
		The commission’s propositions
		Thanks
	Executive Summary by O. Blanchard and J. Tirole
	Introductory Chapter - France is Facing Three Major Challenges
		On the Report
			The challenges
			How the commission saw its role
		Section 1 - Climate Change
			1. Facts and Perceptions
				1.1. An unpopular carbon tax
				1.2. The relative popularity of opaque policies
				1.3. Motivated beliefs
			2. A Holistic Approach
				2.1. Leg 1 – Carbon pricing
				2.2. Leg 2 – An intense R&D effort
				2.3. Leg 3 – Complementary actions
				2.4. Leg 4 – Compensation
				2.5. Leg 5 – International juicing
			3. Further Thoughts and Leads for Future Reflections
				3.1. Governmental actions
				3.2. Non-governmental actions
			4. Summing up
		Section 2 - Economic Inequality and Insecurity
			1. Facts and Perceptions
			2. Conceptual Frame
			3. Pre-production Stage Measures: Levelling the Playing Field
				3.3. Education
				3.2. Inheritance
			4. Post-production Stage Interventions
			5. Production-stage Policies: Fitting Skills to Technology  and Technology to Skills
				5.1. Training workers
				5.2. Improving the number and quality of jobs
		Section 3 - Demographic Change: Aging, Health and Immigration
			1. Facts and Perceptions
			2. A Holistic Approach
				2.1. Shifting from price to wage indexation, with a demographic adjustment
				2.2. A point system proposal
				2.3. Allowing for flexibility of individual choices
				2.4. Recognizing individual differences
				2.5. Arduous work
				2.6. The determination of the service value
				2.7. A reserve fund, and an independent board
				2.8. Dealing with the transition
			3. Accompanying Labor Market Policies
			4. Immigration and Labor Participation
	Chapter One - Climate Change
		Executive Summary
		Introduction
		Section 1 - The Climate Problem
			1. An Existential Threat
			2. Perceptions and Willingness to Act
			3. The International Challenge
		Section 2 - Making Climate Policy Progress
			1. Guiding Principles and Policy Tools
			2. Carbon Pricing
			3. Evaluating Complementary Climate Change Policies
		Section 3 - A Closer Look At Specific Policies
		1. Strengthening the EU-ETS
			1.1. Strengthening price ambition and predictability
			1.2. Strengthening the sectoral scope
			1.3. Strengthening the geographic scope
			1.4. Strengthening transparency and redistribution
		2. Finalizing the Electricity Transition
			2.1. The need to eliminate coal
			2.2. The need for a timely elimination of baseload natural gas
			2.3. The need to trade-off the value and risks of nuclear
			2.4. The need to incentivize demand
		3. Energy Efficiency in the Housing Sector
		4. Priorities in Innovation
		5. Involvement of Consumers, Corporations, Investors  and Financial Institutions
		6. The Role of Agricultural Policy
		7. Contributing to the Transformation of Transportation  and City Systems
		Concluding Remarks
		References
	Chapter Two - Economic Inequality and Insecurity; Policies for an Inclusive Economy (by Dani Rodrik & Stefanie Stantcheva)
		Executive Summary
		Section 1 - Rising Inequality, Insecurity, Hollowing Out of the Middle Class
			1. Key Facts on Inequality and the Labor Market in France
				1.1. Overall inequality in international comparison
				1.2. Territorial inequalities in France
				1.3. Social mobility
				1.4. Labor market polarization
			2. Attitudes and Views
				2.1. What are “good jobs” according to people?
				2.2. What does and can the government do according to people?
				2.3. Attitudes on inequality, insecurity, and mobility
		Section 2 - What Can Be Done? A Framework for Good Policy
			1. A Policy Taxonomy
			2. Social Benefits of Good Jobs
			3. Merging the Social and Productivity Agendas
		Section 3 - Pre-Production Policies
			1. Inheritance Taxation
			2. Education Policy
				2.1. Introduction
				2.2. Financing education: Reorienting spending towards disadvantaged schools and students
				2.3. Pre-K schooling
				2.4. Elementary and secondary schooling
				2.5. Teachers: Boosting training, lifelong learning, and pay
				2.6. Transition from school to work
				2.7. A push for coherent policy evaluations
		Section 4 - Production-Stage Policies
			1. Employer-Focused Active Labor Market Policies
				1.1. Active labor market policies
				1.2. How sectoral training programs succeed
				1.3. European experiments
				1.4. The French case
			2. Business Incentives with Good-Jobs Focus
				2.1. Do business incentives work?
				2.2. Towards new institutional arrangements for business incentives
				2.3. Governance considerations for RBBs
			3. Labor-Friendly Innovation Policies
				3.1. Changing the narrative: Technology for good jobs
				3.2. Margins of technological choice
				3.3. Is there a role for policy?
			4. Trade Policies that Address Fairness
				4.1. Trade and distribution
				4.2. Trade, fairness, and appropriate remedies
				4.3. Addressing social dumping
		Section 5 - Post-Production Policies
			1. Rethinking Tax Systems
			2. Personal Taxation: Capital Income and Labor Income
				2.1. Pushing further the exchange of information on capital
				2.2. Capital tax base broadening: taking a critical look  at the niches fiscales
				2.3. EU-level coordination and fighting preferential tax regimes
			3. Reducing Fiscal Leakages: Tax Compliance  and Productivity of the Public Sector
				3.1. Improving tax compliance
				3.2. The spending side: rethinking the public sector’s productivity1
			4. Corporate Taxation
		Section 6 - A Tool for Understanding Citizens: Surveys
			1. Large-Scale, On-Going Surveys as a Policy Tool
			2. Surveys of Firms and Employers
			3. An Iterative Policy Design and Testing Tool
			4. What Can We Learn from Surveys?
			5. Knowledge Gaps, Misperceptions, and Outreach
			6. Citizens Are Favorable to Surveys  for Public Policy Purposes
		References
	Chapter Three - Demographic Change: Aging, Health and Immigration
		Executive Summary
		Section 1 - Facts and Perceptions
			1. The Challenges of Population Aging
				1.1. Old-age dependency is increasing…
				1.2. …and so are pension expenditures
				1.3. Inter- and intragenerational imbalances  of the French pension system
			2. Labor Market For Older Workers
				2.1. Low old-age employment and early labor market exit
				2.2. Financial disincentives
				2.3. Motivational and perceptional impediments for old-age employment
			3. Health of Older Workers
				3.1. Average health
				3.2. The average health masks large health disparities
				3.3. Employment and health
			4. Labor Market for Immigrants
				4.1. Low activity and employment rates among immigrants
				4.2. Low levels of education and limited recognition  of foreign credentials
				4.3. Labor market relevant resources: language skills and social ties
				4.4. Motivational factors and (perceived) discrimination
		Section 2 - Recommendations
			1. General Approach
			2. Pension Reform
				2.1. Implement the core of the government’s 2020 proposal  to the Parliament
				2.2. Pension benefit computation
				2.3. From a single pivotal age to a retirement window
				2.4. A two-pronged balancing mechanism with a reserve fund
				2.5. Redistribution
				2.6. Transition and actuarial projections
			3. Accompanying Labor Market Policies to Support  the Employment of Older Workers
				3.1. “Good jobs” for older workers: flexible, part-time, motivating
				3.2. Active labor market policies for older workers: job placement and further education
				3.3. Policies to improve employability of workers with chronic illness
			4. Health System Reforms to Increase Use of Preventative Care and Improve Chronic Disease Management
				4.1. Greater use of payment related to performance
				4.2. Accelerate use of payment for bundles of treatments
				4.3. A pre-defined basket of fully insured preventative care treatments
				4.4. Increase delivery of preventative and chronic care remotely
			5. Reforms in Integration Policies
				5.1. More coherent policies that support recognition of existing  and achievement of new skills and credentials
				5.2. Counteracting intergenerational transmission of low levels  of education through better access to better schools
				5.3. Detecting and reducing discrimination
		References
	Appendix - Members of the Commission
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