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GTAP Resource #6799

"Modelling the effect of higher energy prices on the EU economy"
by Weitzel, Matthias, Toon Vandyck, Rafael Garaffa, Umed Temursho, Jose Antonio Ordonez and Marie Tamba

Russia’s invasion of Ukraine has led to strong economic repercussions globally. In particular, turbulences on international energy markets and reduced flows of natural gas from Russia to the EU have led to a sharp increase of energy prices. In this paper, we investigate the effect on Europe resulting from higher energy prices and the role of policy responses for mitigating potential adverse effects. We differentiate here between impacts in the short run, where we look at the more immediate effects of high prices on the EU economy and European households, and the medium to long run where we look at policies that reduce the dependence of fossil energy imports, in particular from Russia.

Resource Details (Export Citation) GTAP Keywords
Category: 2023 Conference Paper
Status: Not published
By/In: Presented during the 26th Annual Conference on Global Economic Analysis (Bordeaux, France)
Date: 2023
Version: Draft
Created: Weitzel, M. (2/23/2023)
Updated: Weitzel, M. (4/14/2023)
Visits: 335
- Advances in quantitative methods
- Climate change policy
- Economic crisis
- European Union

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