EconPapers    
Economics at your fingertips  
 

Sudden stop: Supply and demand shocks in the German natural gas market

Jochen Güntner, Magnus Reif and Maik Wolters

Journal of Applied Econometrics, 2024, vol. 39, issue 7, 1282-1300

Abstract: We use a structural vector autoregressive (SVAR) model to study the German natural gas market and investigate the impact of the 2022 Russian supply stop on the German economy. Combining conventional and narrative sign restrictions, we find that gas supply and demand shocks have large and persistent price effects, while output effects tend to be moderate. The 2022 natural gas price spike was driven by adverse supply shocks and positive storage demand shocks, as Germany filled its inventories before the winter. Counterfactual simulations of an embargo on natural gas imports from Russia indicate similar positive price and negative output effects compared with what we observe in the data.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1002/jae.3089

Related works:
Working Paper: Sudden Stop: Supply and Demand Shocks in the German Natural Gas Market (2024) Downloads
Working Paper: Sudden stop: Supply and demand shocks in the German natural gas market (2024) Downloads
Working Paper: Sudden stop: Supply and demand shocks in the German natural gas market (2024) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:japmet:v:39:y:2024:i:7:p:1282-1300

Ordering information: This journal article can be ordered from
http://www3.intersci ... e.jsp?issn=0883-7252

Access Statistics for this article

Journal of Applied Econometrics is currently edited by M. Hashem Pesaran

More articles in Journal of Applied Econometrics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2025-03-22
Handle: RePEc:wly:japmet:v:39:y:2024:i:7:p:1282-1300