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Russia-Ukraine War: Short-run Production and Labour Market Effects of the Energy Crisis

Christian Hutter and Enzo Weber

No 202210, IAB-Discussion Paper from Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]

Abstract: "With the Russian war against Ukraine, global economic conditions changed abruptly. We provide first causal evidence of effects of the energy crisis on Germany as Europe’s most important economy. Combining cost structure data, national accounts and administrative labour market data, we identify effects in a sectoral panel setting. The results show that via the channel of energy intensity, production decreased by about 1 percent with the onset of the war, but turnover increased, mirroring sales from stock. Firms safeguard employment via short-time work with 10 percent additional applications. Vacancy posting was reduced already in anticipation by 8 percent." (Author's abstract, IAB-Doku) ((en))

Keywords: Bundesrepublik Deutschland; Russland; Ukraine; IAB-Open-Access-Publikation; Auswirkungen; Beschäftigungseffekte; Energiekosten; Energiekrise; Gütermarkt; Handelshemmnis; internationale Wirtschaftsbeziehungen; Krieg; Preisentwicklung; Produktionsentwicklung; Sanktion; Wirtschaftszweige; 2021-2022 (search for similar items in EconPapers)
JEL-codes: E23 H56 J63 Q43 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2022-05-16
New Economics Papers: this item is included in nep-cis, nep-ene, nep-mac and nep-tra
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https://doi.org/10.48720/IAB.DP.2210

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Persistent link: https://EconPapers.repec.org/RePEc:iab:iabdpa:202210

DOI: 10.48720/IAB.DP.2210

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