Scroll to Section:

When faced with an energy crisis that sees prices substantially increase, governments have a number of options. In this video, CHRISTIAN BAYER analyzes the economic impacts of German and Italian responses to the aftermath of Russia’s 2022 invasion of Ukraine. Bayer develops a complex model that compares Italian subsidies to German monetary transfers. His findings show that subsidies have a more negative economic impact than monetary transfers while the latter help lower income households the most. This ongoing research project will be of high interest to policymakers and economists in the context of the European Carbon Trading Scheme, set to be introduced in 2027.
DOI:
https://doi.org/10.21036/LTPUB101176

Researcher

Christian Bayer is a Professor of Economics at the University of Bonn. Holding research fellowships at CESifo, CEPR and the IZA, Bayer is also a member of the ECONtribute cluster of excellence. Having completed his doctoral research at the University of Dortmund in 2004, Bayer’s main research interests include dynamic macroeconomics, heterogeneity and empirical macroeconomics. Bayer’s work is regularly featured in the media (Deutschlandfunk, Die Zeit) and on his podcast WRINT: Wirtschaftskunde.

Institution

University of Bonn (Rheinische Friedrich-Wilhelms-Universität Bonn)

Bonn is one of the large universities in Germany, with around 36,000 students, 550 professors, 6,500 other staff staff. It offers a wide disciplinary spectrum comprising some 200 different degree programmes, from Agricultural Science to Tibetan Studies. This diversity is what characterizes Bonn as a full-range university with a strong international orientation. In many international university rankings Bonn is placed among the 100 best universities in the world.Its academic and research profile features internationally renowned specializations in the fields of Mathematics, Physics/Astronomy, Economics, Chemistry, Pharma Research, Biosciences, Genetic Medicine, Neurosciences and Philosophy/Ethics. Other disciplines, such as Geography and Law, are of outstanding importance within the German research scene. The Rheinische Friedrich-Wilhelms-Universität Bonn is rooted in a long tradition going back almost 200 years. It was founded in 1818 by Friedrich-Wilhelm III, the Prussian king whose name it bears. Imbued with the spirit of Wilhelm von Humboldt, the university quickly joined the circle of Germany's most distinguished universities and became a major pole of attraction for leading scholars as well as students.The list of famous professors ranges from the astronomer Friedrich Wilhelm Argelander (1799-1875), through the chemist August Kekulé von Stradonitz (1829–1896) and political economist Josef Schumpeter (1883–1950) to the philologist Ernst Robert Curtius (1886–1956) and the theologists Karl Barth (1886–1968) and Joseph Ratzinger (born 1927), now Pope Benedict XVI. Bonn's best-known students include Heinrich Heine, Karl Marx, Friedrich Nietzsche, and Konrad Adenauer. The university is proud of a long list of award-winning scientists and scholars, with about twenty Leibniz Prize winners and around thirty ERC grantees. In the last three decades two professors have received the Nobel Prize: Wolfgang Paul (for Physics, 1989) and Reinhard Selten (for Economics, 1994). (Source: University of Bonn)
Show more

Original publication

Hicks in HANK: Fiscal Responses to an Energy Shock

C. Bayer, A. Kriwoluzky, G. Müller and F. Seyrich
Published in 2023

Beyond