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Russia-Ukraine War: Short-run Production and Labour Market Effects of the Energy Crisis

Author

Listed:
  • Hutter, Christian

    (Institute for Employment Research (IAB), Nuremberg, Germany)

  • Weber, Enzo

    (Institute for Employment Research (IAB), Nuremberg, Germany ; Univ. Regensburg)

Abstract

"With the Russian war against Ukraine, global economic conditions changed abruptly. We provide first causal evidence of effects of the energy crisis on Germany as Europe’s most important economy. Combining cost structure data, national accounts and administrative labour market data, we identify effects in a sectoral panel setting. The results show that via the channel of energy intensity, production decreased by about 1 percent with the onset of the war, but turnover increased, mirroring sales from stock. Firms safeguard employment via short-time work with 10 percent additional applications. Vacancy posting was reduced already in anticipation by 8 percent." (Author's abstract, IAB-Doku) ((en))

Suggested Citation

  • Hutter, Christian & Weber, Enzo, 2022. "Russia-Ukraine War: Short-run Production and Labour Market Effects of the Energy Crisis," IAB-Discussion Paper 202210, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    • Handle: RePEc:iab:iabdpa:202210
    DOI: 10.48720/IAB.DP.2210
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    Citations

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    Cited by:

    1. Matthias Neuenkirch & Maria Repko & Enzo Weber, 2022. "Hawks and Doves: Financial Market Perception of Western Support for Ukraine," Working Papers 398, Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
    2. Zsolt Sándor Kömüves & József Poór & Ladislav Mura & Arnold Tóth & Erika Varga & Gábor Hollósy-Vadász, 2024. "Labour Shortage and Labour Retention as a Possible Strategy in a Difficult Economic Situation Based on Empirical Data of a Transitioning Economy," Central European Business Review, Prague University of Economics and Business, vol. 2024(4), pages 103-121.
    3. Christian Kagerl & Michael Moritz & Duncan Roth & Jens Stegmaier & Ignat Stepanok & Enzo Weber, 2022. "Energiekrise und Lieferstopp für Gas: Auswirkungen auf die Betriebe in Deutschland [The Energy Crisis and Gas Supply Stop: Consequences for Businesses in Germany]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 102(6), pages 486-491, June.

    More about this item

    Keywords

    Bundesrepublik Deutschland ; Russland ; Ukraine ; IAB-Open-Access-Publikation ; Auswirkungen ; Beschäftigungseffekte ; Energiekosten ; Energiekrise ; Gütermarkt ; Handelshemmnis ; internationale Wirtschaftsbeziehungen ; Krieg ; Preisentwicklung ; Produktionsentwicklung ; Sanktion ; Wirtschaftszweige ; 2021-2022;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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