Natixis - France : un mÃ©canisme redistributif peu commentÃ©

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Natixis

Patrick Artus

France : un mÃ©canisme redistributif peu commentÃ©

La baisse des taux dâ€™intÃ©rÃªt a conduit en France Ã une forte baisse des intÃ©rÃªt s payÃ©s par les entreprises depuis 2009. Cette baisse a soutenu la profitabilitÃ© des entreprises et leur capacitÃ© Ã investir alors que les salaires rÃ©els augmentent plus vite que la productivitÃ©. Elle a donc permis de soutenir les salaires sans dÃ©grader la situation financiÃ¨re des entreprises. Il sâ€™agit bien dâ€™un mÃ©canisme redistributif de grande taille allant des mÃ©nages prÃªteurs (des Â«Â richesÂ Â») qui re Ã§ o ivent une rÃ©munÃ©ration beaucoup plus faible de leur Ã©pargne vers les salariÃ©s qui peuvent obtenir des haus s es de salaires sans quâ€™il y ait dÃ©gradation de la profitabilitÃ© des entreprises.

01/04/2019 4 FR

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Patrick Artus

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France : un mÃ©canisme redistributif peu commentÃ©

Japan: Macro and geopolitics brew winners in industrials, IT and financials

Section 899: A tool to increase revenue or to change foreign tax policy?

ECB Takes Summer Pause to Preserve Monetary Policy Flexibility

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