We propose a structural vector-autoregressive model for the German natural gas market to investigate the impact of the 2022 Russian supply stop on the German economy. We combine conventional and narrative sign restrictions to leverage information about supply cuts for identification and find...

We use a structural VAR model to study the German natural gas market and investigate the impact of the 2022 Russian supply stop on the German economy. Combining conventional and narrative sign restrictions, we find that gas supply and demand shocks have large and persistent price effects, while...

The European countries are highly dependent on energy imports, making them vulnerable to international geopolitical threats. In this context, improving energy efficiency emerges as a cost-effective solution. The primary purpose of this study is to investigate the impact of geopolitical risk...