Image Hall de la Banque de France Illustration accueil

Welcome to the Banque de France website

An institution that helps citizens deal with the economic and societal challenges facing France and Europe

 

Discover the Banque de France

News

Image Réunion professionnelle
Working paper Banque de France
The Many Channels of Firm’s Adjustment to Energy Shocks: Evidence from France

 Working Paper Series no. 929.

Based on firm level data in the French manufacturing sector, we find that firms adapt quickly, strongly and through multiple channels to energy shocks, even though electricity and gas bills represent a small share of their total costs. Over the period 1996-2019, faced with an idiosyncratic energy price increase, firms reduce their energy demand, improve their energy efficiency, increase intermediate inputs imports and optimize energy use across plants. Firms are also able to pass-through the cost shock fully into their export prices.

16 November 2023

The Banque de France is at your service

At your service | Businesses

Help and support for company directors

Learn more
At your service | Banque de France

Designing and manufacturing banknote paper and banknotes

Learn more

All statistics

Find out more
Eco Notepad 15 November 2023

A measure of efficiency in the use of labour resources: beyond productivity

Learn more

ABC de l’économie

Find out more
At your service | Banque de France

Discover the International Banking and Finance Institute

Learn more
Report 22 March 2023

Banque de France Annual Report 2022

Learn more

3-minute guide to monetary strategy

Learn more
Climate change

What is the Banque de France doing to combat global warming?

Consult the FAQ

Focus

billet JR

Banknotes

The Banque de France is a key player in the cash industry and works with its customers to modernise the sector
RH

Climate

The Bank supports and adds to collective initiatives to combat global warming
Perso 4
Perso 2
Perso 3
Perso 1

Find a contact

Throughout France, our advisors are at your service. Contact them by telephone, e-mail, post or via the national hotline

Banque de France is hiring