by Time for a cut-off from Russian energy imports If the German government were to stop Russian energy imports, the German economy would be able to adapt to the new situation. This is shown in a recent study by the research team led by economists Prof. Dr. Moritz Schularick and Prof. Dr. Moritz Kuhn … The researchers analyzed the potential economic impact of a cut-off from Russian energy imports. The result: The consequences would be substantial, but manageable. Germany would not run out of energy … According to the study, gross domestic product (GDP) would decline by something between 0.5 and 3 percent in the short term, which is equivalent to costs between 100 and 1,000 euros per year and inhabitant. For comparison: GDP fell by 4.5 percent in 2020 due to
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Time for a cut-off from Russian energy imports
If the German government were to stop Russian energy imports, the German economy would be able to adapt to the new situation. This is shown in a recent study by the research team led by economists Prof. Dr. Moritz Schularick and Prof. Dr. Moritz Kuhn …
The researchers analyzed the potential economic impact of a cut-off from Russian energy imports. The result: The consequences would be substantial, but manageable. Germany would not run out of energy … According to the study, gross domestic product (GDP) would decline by something between 0.5 and 3 percent in the short term, which is equivalent to costs between 100 and 1,000 euros per year and inhabitant. For comparison: GDP fell by 4.5 percent in 2020 due to the Corona pandemic …
The researchers are calling on policymakers to provide targeted support for low-income households while implementing incentives for lower gas consumption. “If an embargo is desired, it should start as soon as possible so that industry and households can adjust during the summer,” Schularick says. Even if an embargo is not imminent, it is advisable to continue raising energy prices now, he said. In the long term, the gas infrastructure to other countries also needs to be expanded, he adds.