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...

This policy report studies the effects of a sudden stop of natural gas imports from Russia on the German economy. The analysis focuses on the supply-side effects that arise when a gas shortage affects production in the gas-intensive manufacturing sectors, with a corresponding production...

Increasing price levels, high price volatility and the suspicion of collusive behavior are important topics of public debates on competition in retail gasoline markets in many countries. Several governments and competition authorities introduced fuel price regulations in form of restrictions on...