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Save your energy: how the war in the Middle East could affect household savings and the economy

Author

Listed:
  • Battistini, Niccolò
  • Bobasu, Alina
  • Rigato, Rodolfo Dinis
  • Kase, Hanno

Abstract

This box analyses how households adjust their saving behaviour in an environment of heightened geopolitical tensions and rising energy prices. Using an empirical model together with two general equilibrium frameworks, it evaluates how adverse shocks to energy prices and consumer uncertainty could affect the saving rate, and it examines the implications for GDP growth, inflation and the distribution of consumption across households. JEL Classification: E23, E27, E32

Suggested Citation

  • Battistini, Niccolò & Bobasu, Alina & Rigato, Rodolfo Dinis & Kase, Hanno, 2026. "Save your energy: how the war in the Middle East could affect household savings and the economy," Economic Bulletin Boxes, European Central Bank, vol. 3.
    • Handle: RePEc:ecb:ecbbox:2026:0003:4
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    Keywords

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    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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