Abstract
The Russian government’s attack on Ukraine and the spiral of sanctions that has been set in motion have heightened inflationary pressure — especially in Europe. The EU’s high dependency on Russian oil and gas imports harbours the risk that inflation in Europe will rise significantly and that the economy will suffers from a loss of purchasing power. The pressure on policymakers to take counter-measures is growing. However, the options are limited in the short term and economically very costly. And longer-term consequences must be taken into account. Energy policy and climate policy must be closely linked.
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Literatur
Bloomberg (2021), Bloomberg Economics Forecast Models for the U.S., U.K. and Euro Area, via Bloomberg-Terminal (1. März 2022).
IW (2022), Gesamtwirtschaftliche Effekte eines höheren Gaspreises, IW-Kurzbericht, Nr. 14, https://www.iwkoeln.de/studien/galina-kolevthomas-obst-gesamtwirtschaftliche-effekte-eines-hoeheren-gas-preises.html (1. März 2022).
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Dr. Johannes Mayr ist Chefvolkswirt bei Eyb & Wallwitz in München.
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Open Access: Dieser Artikel wird unter der Creative Commons Namensnennung 4.0 International Lizenz veröffentlicht (https://creativecommons.org/licenses/by/4.0/deed.de).
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