Without Russian Gas, a Sharp Recession Looms in Germany
Abstract The German economy is steering through difficult waters. Tail winds from fading pandemic restrictions, supply-side bottlenecks in the aftermath of the coronavirus crisis, and shock waves caused by the war in Ukraine are dragging the economy in opposing directions. The common factor is the p...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | deu |
| Published: |
Springer
2022-05-01
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| Series: | Wirtschaftsdienst |
| Online Access: | https://doi.org/10.1007/s10273-022-3187-3 |
| _version_ | 1811338865641783296 |
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| author | Martin Gornig Oliver Holtemöller Stefan Kooths Torsten Schmidt Timo Wollmershäuser |
| author_facet | Martin Gornig Oliver Holtemöller Stefan Kooths Torsten Schmidt Timo Wollmershäuser |
| author_sort | Martin Gornig |
| collection | DOAJ |
| description | Abstract The German economy is steering through difficult waters. Tail winds from fading pandemic restrictions, supply-side bottlenecks in the aftermath of the coronavirus crisis, and shock waves caused by the war in Ukraine are dragging the economy in opposing directions. The common factor is the price-driving effect. Abruptly stopping gas deliveries from Russia to the European Union would drive the German economy into a deep recession. In this case, the accumulated loss of overall economic output would amount to 220 billion euro by the end of 2023. |
| first_indexed | 2024-04-13T18:17:54Z |
| format | Article |
| id | doaj.art-4e72d878ebfb439f853e8dc6b193f13c |
| institution | Directory Open Access Journal |
| issn | 1613-978X |
| language | deu |
| last_indexed | 2024-04-13T18:17:54Z |
| publishDate | 2022-05-01 |
| publisher | Springer |
| record_format | Article |
| series | Wirtschaftsdienst |
| spelling | doaj.art-4e72d878ebfb439f853e8dc6b193f13c2022-12-22T02:35:37ZdeuSpringerWirtschaftsdienst1613-978X2022-05-01102534735310.1007/s10273-022-3187-3Without Russian Gas, a Sharp Recession Looms in GermanyMartin Gornig0Oliver Holtemöller1Stefan Kooths2Torsten Schmidt3Timo Wollmershäuser4Abtl. Industriepolitik, Deutsches Institut für WirtschaftsforschungAbteilung Makroökonomik, Institut für Wirtschaftsforschung HalleLeiter Prognosezentrum, Institut für WeltwirtschaftRWI - Leibniz-Institut für WirtschaftsforschungBefragungen, ifo Zentrum für KonjunkturforschungAbstract The German economy is steering through difficult waters. Tail winds from fading pandemic restrictions, supply-side bottlenecks in the aftermath of the coronavirus crisis, and shock waves caused by the war in Ukraine are dragging the economy in opposing directions. The common factor is the price-driving effect. Abruptly stopping gas deliveries from Russia to the European Union would drive the German economy into a deep recession. In this case, the accumulated loss of overall economic output would amount to 220 billion euro by the end of 2023.https://doi.org/10.1007/s10273-022-3187-3 |
| spellingShingle | Martin Gornig Oliver Holtemöller Stefan Kooths Torsten Schmidt Timo Wollmershäuser Without Russian Gas, a Sharp Recession Looms in Germany Wirtschaftsdienst |
| title | Without Russian Gas, a Sharp Recession Looms in Germany |
| title_full | Without Russian Gas, a Sharp Recession Looms in Germany |
| title_fullStr | Without Russian Gas, a Sharp Recession Looms in Germany |
| title_full_unstemmed | Without Russian Gas, a Sharp Recession Looms in Germany |
| title_short | Without Russian Gas, a Sharp Recession Looms in Germany |
| title_sort | without russian gas a sharp recession looms in germany |
| url | https://doi.org/10.1007/s10273-022-3187-3 |
| work_keys_str_mv | AT martingornig withoutrussiangasasharprecessionloomsingermany AT oliverholtemoller withoutrussiangasasharprecessionloomsingermany AT stefankooths withoutrussiangasasharprecessionloomsingermany AT torstenschmidt withoutrussiangasasharprecessionloomsingermany AT timowollmershauser withoutrussiangasasharprecessionloomsingermany |