Benjamin Moll

Oct 25, 2023 | brookings.edu | Janice Eberly |Benjamin H. Harris |Benjamin Moll |Jón Steinsson

After the Russian invasion of Ukraine, there was a heated debate in Germany about whether to embargo the import of Russian natural gas as a sanction against Russia’s aggression. Germany imported 55% of its gas from Russia at the time, and many argued that the embargo would crush Germany’s economy. Before Germany could act, Russian began cutting the flow of gas to Germany, eventually halting it entirely.

Sep 27, 2023 | brookings.edu | Benjamin Moll |Moritz Schularick |Georg Zachmann

Editor's note: The paper summarized here is part of the fall 2023 edition of the Brookings Papers on Economic Activity, the leading conference series and journal in economics for timely, cutting-edge research about real-world policy issues. Research findings are presented in a clear and accessible style to maximize their impact on economic understanding and policymaking. The editors are Brookings Nonresident Senior Fellows Janice Eberly and Jón Steinsson.