The German energy crisis : a TENK-based fiscal policy analysis / Alexandra Gutsch, Christoph Schult ; editor: Halle Institute for Economic Research (IWH) - Member of the Leibniz Association
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The German energy crisis : a TENK-based fiscal policy analysis (rev. ed. May 2026) Discovery
1971308013
URN
urn:nbn:de:gbv:3:2-123456789-1191555
DOI
ISBN
ISSN
Koordinaten
Skalierung
Autorin / Autor
Beiträger
Körperschaft
Erschienen
Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, 2026
Umfang
1 Online-Ressource (III, 82 Seiten, 6,04 MB) : Diagramme
Ausgabevermerk
This version: 15.05.2026
Sprache
eng
Anmerkungen
Literaturverzeichnis: Seite 42-47
Inhaltliche Zusammenfassung
We study the aggregate, distributional, and welfare effects of fiscal policy responses to Germany’s energy crisis arising in 2022 using a novel ten-agent New Keynesian (TENK) model. The crisis, compounded by the COVID-19 pandemic, led to sharp price increases and significant consumption disparities. Our model, calibrated to Germany’s income and consumption distribution, evaluates key policy interventions. We find that non-targeted transfers had the largest short-term aggregate impact, while targeted transfers for lower income households were more cost-effective. The energy cost brake and reductions in gas and oil taxes have shown very little effect, but were comparatively cost-effective under the assumption of exogenous prices. Our results highlight how targeted fiscal measures can address distributional effects and stabilize consumption during crises.
Schriftenreihe
IWH discussion papers ; 2025, no. 1 (January 2025) [rev.] ppn:837399270