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Invasion of Ukraine and Effects on the German Economy: A CGE Approach

In: Advances in Empirical Economic Research

Author

Listed:
  • Gerassimos Bertsatos

    (University of Western Macedonia)

  • Nicholas Tsounis

    (University of Western Macedonia
    School of Social Sciences, Hellenic Open University)

Abstract

The trading relationship between Germany and Russia is examined, and the effects of sanctions implemented on Russia due to the invasion of Ukraine on the German economy are investigated. A computable general equilibrium (CGE) model is developed to quantify the implications of the imposition of a quota on Russian imports and how Germany’s production activities alter due to reduced energy use from Russia. By simulating the quota scenario on the baseline model, the results indicated that energy use in Germany is reduced by around 20% thus, the output is reduced as well. This situation causes the energy haven effect to emerge, where firms may reallocate to countries with laxer energy regulations and produce as usual.

Suggested Citation

  • Gerassimos Bertsatos & Nicholas Tsounis, 2023. "Invasion of Ukraine and Effects on the German Economy: A CGE Approach," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Empirical Economic Research, chapter 0, pages 527-543, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-22749-3_33
    DOI: 10.1007/978-3-031-22749-3_33
    as

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