Russia-Ukraine War: A Note on Short-Run Production and Labour Market Effects of the Energy Crisis

Christian Hutter and Enzo Weber

MPRA Paper from University Library of Munich, Germany

Abstract: We provide first causal evidence of effects of the energy crisis on Germany, representing a major European economy. Combining cost structure data, national accounts and administrative labour market data, we identify effects in a sectoral panel setting using sector-specific energy intensity as “bite” variable. The results show that via the channel of energy intensity, monthly production and real turnover decreased by 4.1 and 2.6 percent, respectively, after the onset of the Russian war against Ukraine. Instead of layoffs, firms safeguarded employment via short-time work with 24.1 percent additional applications. Vacancy posting was reduced by 10.2 percent.

Keywords: Russia-Ukraine war; energy; production; labour market; Germany (search for similar items in EconPapers)
JEL-codes: E23 H56 J63 Q43 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-cis and nep-ene
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Citations: View citations in EconPapers (1)

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Journal Article: Russia–Ukraine war: A note on short-run production and labour market effects of the energy crisis (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:116620

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