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Alongside this, quality standards have improved. Originally, publication was only subject to internal approval from above. Today, the manuscripts submitted are systematically assessed by anonymous reviewers as part of a standard peer review system. And the journal, like any academic journal, now has a formal governance structure with a Scientific Committee since 2003 and an Editorial Advisory Board since 2014.As a natural corollary of these changes, the papers published in the journal do not necessarily reflect the views of Insee. Indeed, the readers are systematically reminded that "the views and opinions expressed by the authors are their own and do not necessarily reflect those of the institutions to which they belong or of Insee itself." This precaution is not always sufficient, and when there is a debate over a paper, it is often presented as "an Insee study". From my point of view as a publishing director, I find the confusion regrettable, although it does not, and indeed should not, cause us to avoid a subject or reject a paper on the grounds that it might generate controversy. In practice, informing debates cannot always be done by staying out of the debate.The editors have always been, and remain, committed to facilitating access to articles, in particular with the use of "boxes". While these were initially intended to accommodate the most technical developments so that they do not interfere with the ease of reading, they now contribute to a rigorous presentation of the sources used and their possible treatment. I am aware that this is not standard practice in academic journals, but I will nonetheless continue to defend the original model -an extremely useful model in my view -of a journal that sets high standards while at the same time striving to remain accessible to readers who may not necessarily be experts in the topics discussed.In very recent years, the journal has continued to evolve with the aim of achieving greater international openness. This is precisely why Économie et Statistique has become "Economie et Statistique/Economics and Statistics", published simultaneously in French and English, and both available on the Insee website. However, the journal has remained faithful to the same key principles, including openness to different topics and disciplines and a dual commitment to official statistics and research, which give it a distinctive place both at Insee and within the field of French journals.While I very much hope that this anniversary will be followed by many more, I would also like to thank the editors-in-chief we have had since 1969, the academics who have agreed to sit on the Scientific Committee over the past fifteen years, and all the reviewers working anonymously behind the scenes.

Using an event study methodology and comprehensive micro data from the French manufacturing sector, we analyze the local labor market effects of investments in modern manufacturing capital, including modern automation technologies. We estimate that commuting zones with higher investments in modern manufacturing capital and automation benefit from higher labor demand, with an increase in both local employment and wages. Our findings are consistent with a task-based model where the productivity effects of modern capital investments and automation outweigh their displacement effect.

Nous cherchons à expliquer l’évolution de la consommation dans cinq grands pays industrialisés (Allemagne, France, Espagne, Royaume-Uni et États-Unis) entre 1990 et 2015 à partir de ses déterminants traditionnels. Alors que la littérature sur les effets de richesse porte essentiellement sur la période antérieure à la crise de 2008, nous intégrons les années post-crise, distinguons des effets de richesse financière et immobilière par pays et utilisons une mesure de la richesse agrégée et désagrégée pour comparer l’ampleur des effets entre pays. Nous montrons que depuis la crise financière de 2008, les méthodes classiques d’estimation par pays échouent à prévoir la consommation des ménages. Nous proposons donc une méthode d’estimation en panel, qui permet de mieux tenir compte des chocs communs, d’obtenir des équations valides et de mesurer les effets richesse y compris après la crise. Conformément à la théorie et à une partie de la littérature empirique, nous n’observons pas d’effet de richesse significatif sur l’immobilier. En revanche, l’effet de richesse financière brute est significatif dans tous les pays (à l’exception de l’Allemagne). Il est élevé en Espagne où il y a eu un éclatement de la bulle immobilière et financière en 2007, avec une élasticité de la consommation à la richesse financière brute de 0,19. Suivent les États-Unis, où le marché financier est plus développé qu’en Europe continentale (élasticité de 0,14), puis enfin la France et le Royaume-Uni qui affichent des effets similaires (élasticité de 0,09).