International audienceThis study analyzes the effect of public R&D subsidies on private R&D expenditure in a sample of French firms during the period 1993–2009. We evaluate whether there is any input additionality of public R&D subsidies by distinguishing between R&D tax credit recipient and non-recipient firms. In addition, combining difference-in-differences with propensity score and exact (both simple and categorical) matching methods, we assess the effect of R&D subsidies between treated (subsidy recipients) and controls (subsidy non-recipients) as well as between differently treated (small, medium and large subsidy recipient) firms. Furthermore, we implement a dose–response matching approach to determine the optimality of public R&D subsidy provisions. We find evidence of either no additionality or substitution effects between public and private R&D expenditure. Crowding-out effects appear to be more pronounced for medium-high levels of public subsidies, and generally under the R&D tax credit regime. A number of robustness checks corroborate our main findings

The European emission trading scheme (EU ETS) has introduced a price for carbon and has thus led to an additional cost for companies that are regulated by the scheme. There is a growing body of empirical literature that investigates the effects of the EU ETS on firm economic performance. However, the results found to date are mixed.The objective of this paper is to provide empirical evidence on the effect of the EU ETS on economic performance at the firm level. Differently from the previous literature, we test the effect of the EU ETS on a larger set of indicators of economic performance: value added, turnover, employment, investment, labour productivity, total factor productivity and markup. Moreover, we evaluate the extent to which the impact of the EU ETS differs depending on some observable features of firms.Our results, based on a large panel of European firms, provide a comprehensive picture of the economic impact of the EU ETS in its first and second phases of implementation. The evidence suggests that the EU ETS had a positive impact on the scale of treated firms, whereas it had a negative impact on scale-free aspects of economic performance.