Energy Crisis: Inflation, Recession, Welfare Loss
Abstract The German economy is being hit hard by the crisis in the gas markets. Skyrocketing gas prices are drastically increasing energy costs accompanied by a massive withdrawal of purchasing power. This is pushing the German economy into a recession. At the same time, the institutes conclude that...
Saved in:
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | deu |
| Published: |
Sciendo
2022-10-01
|
| Series: | Wirtschaftsdienst |
| Online Access: | https://doi.org/10.1007/s10273-022-3291-4 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832568922314899456 |
|---|---|
| author | Oliver Holtemöller Stefan Kooths Torsten Schmidt Timo Wollmershäuser |
| author_facet | Oliver Holtemöller Stefan Kooths Torsten Schmidt Timo Wollmershäuser |
| author_sort | Oliver Holtemöller |
| collection | DOAJ |
| description | Abstract The German economy is being hit hard by the crisis in the gas markets. Skyrocketing gas prices are drastically increasing energy costs accompanied by a massive withdrawal of purchasing power. This is pushing the German economy into a recession. At the same time, the institutes conclude that there will be no gas shortage in the coming winter under normal weather conditions. Nevertheless, the supply situation remains extremely tight. Against this background, economic output is likely to have already fallen slightly in the third quarter. In the winter half-year, a significant decline is expected due to the rising cost of energy, weakening consumer demand and the weakening global economy. |
| format | Article |
| id | doaj-art-88ae0f4c76b44a57a2006e20ea7768b0 |
| institution | Kabale University |
| issn | 1613-978X |
| language | deu |
| publishDate | 2022-10-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Wirtschaftsdienst |
| spelling | doaj-art-88ae0f4c76b44a57a2006e20ea7768b02025-02-02T23:54:39ZdeuSciendoWirtschaftsdienst1613-978X2022-10-011021076176510.1007/s10273-022-3291-4Energy Crisis: Inflation, Recession, Welfare LossOliver Holtemöller0Stefan Kooths1Torsten Schmidt2Timo Wollmershäuser3Abteilung Makroökonomik, Institut für Wirtschaftsforschung HalleLeiter Prognosezentrum, Institut für WeltwirtschaftRWI - Leibniz-Institut für Wirtschaftsforschungund Befragungen, ifo Zentrum für KonjunkturforschungAbstract The German economy is being hit hard by the crisis in the gas markets. Skyrocketing gas prices are drastically increasing energy costs accompanied by a massive withdrawal of purchasing power. This is pushing the German economy into a recession. At the same time, the institutes conclude that there will be no gas shortage in the coming winter under normal weather conditions. Nevertheless, the supply situation remains extremely tight. Against this background, economic output is likely to have already fallen slightly in the third quarter. In the winter half-year, a significant decline is expected due to the rising cost of energy, weakening consumer demand and the weakening global economy.https://doi.org/10.1007/s10273-022-3291-4 |
| spellingShingle | Oliver Holtemöller Stefan Kooths Torsten Schmidt Timo Wollmershäuser Energy Crisis: Inflation, Recession, Welfare Loss Wirtschaftsdienst |
| title | Energy Crisis: Inflation, Recession, Welfare Loss |
| title_full | Energy Crisis: Inflation, Recession, Welfare Loss |
| title_fullStr | Energy Crisis: Inflation, Recession, Welfare Loss |
| title_full_unstemmed | Energy Crisis: Inflation, Recession, Welfare Loss |
| title_short | Energy Crisis: Inflation, Recession, Welfare Loss |
| title_sort | energy crisis inflation recession welfare loss |
| url | https://doi.org/10.1007/s10273-022-3291-4 |
| work_keys_str_mv | AT oliverholtemoller energycrisisinflationrecessionwelfareloss AT stefankooths energycrisisinflationrecessionwelfareloss AT torstenschmidt energycrisisinflationrecessionwelfareloss AT timowollmershauser energycrisisinflationrecessionwelfareloss |