During the energy crisis in 2022, electricity prices in Germany soared to unprecedented levels. To explore the drivers … of the high electricity prices, we develop an electricity dispatch model that simulates hourly equilibrium prices under …

In this paper we use multivariate cointegration analysis to estimate electricity demand elasticities at the subsectoral … industry level. This enables us to reap the benefits of lower heterogeneity within the electricity-consuming sectors … between 0.70 and 1.90 for economic activity and between –0.52 and zero for the price of electricity. The short …

This paper analyzes the dynamic behavior of day-ahead spot prices in the German electricity spot market due to positive … total negative merit order effect of a solar power shock, however, is larger. One reason might be that solar power shocks …

of German firms to this energy price shock. A variety of measures and reactions at the firm-level are explored, such as … Innovation Survey (CIS). The econometric results show that a high affectedness by the energy price shock in 2022 triggers the … electricity consumption and oil use, and it promotes the substitution of fossil energy sources by renewables. The results also …

argue that the German government handled the immediate response to the energy shock well, but subsequently waited too long … controls as an optimal policy response to an energy shock within a general equilibrium framework. We develop a simple … generate endogenous price uncertainty in the wake of an energy shock. We also link our analysis to the so-called sunspot …