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Media Response Archive 2021 2020 2019 2018 2017 2016 December 2021 IWH: Ausblick auf Wirtschaftsjahr 2022 in Sachsen mit Bezug auf IWH-Prognose zu Ostdeutschland: "Warum Sachsens…
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Research Clusters
Three Research Clusters Each IWH research group is assigned to a topic-oriented research cluster. The clusters are not separate organisational units, but rather bundle the…
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The German Energy Crisis: A TENK-based Fiscal Policy Analysis
Alexandra Gutsch, Christoph Schult
IWH Discussion Papers,
No. 1,
2025
Abstract
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 untargeted transfers had the largest short-term aggregate impact, while targeted transfers for lower-income households were most cost-effective. Other instruments yielded comparably limited welfare gains. The results highlight how targeted fiscal measures can address distributional effects and stabilize consumption during crises.
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Policy Output
Reports › CompNet’s flagship and special reports provide in-depth, data-driven analysis on productivity, competitiveness, and related economic trends, using the latest CompNet…
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Alumni
Alumni IWH provides guidance and support in job placement after graduation, including letters of recommendation and career advice. Graduates have found placements in academia…
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Past Events
Past Events 14. CompNet Annual Conference (Vilnius, 25-26 September 2025) The 14th CompNet Annual Conference, co-hosted with the Bank of Lithuania, took place on 25–26 September…
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6th CompNet Annual Conference
Innovation, firm size, productivity and imbalances in the age of de-globalization 6 th CompNet Annual Conference, June 29-30, 2017, European Commission, Brussels, Belgium As the…
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13 CompNet Annual Conference
13th CompNet Annual Conference The 13th Annual Conference in Valletta, hosted by the Central Bank of Malta, was a resounding success. We extend our heartfelt thanks to everyone…
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12 CompNet Annual Conference
12th CompNet Annual Conference The 12th CompNet Annual Conference , centered around the theme "Firm’s Performance in challenging times: Input costs, Technology, Productivity, and…
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ProdTalks
CompNet ProdTalks CompNet ProdTalks is a monthly recurring 1.5 hour virtual event, two selected papers will be presented including presentation, discussion and Q&A. The top ic…
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