On Thursday, April 7, David Baqaee and Ben Moll joined Markus’ Academy for a lecture on What if Germany is cut off from Russian oil and gas? Baqaee is an assistant professor of economics at UCLA, a research affiliate of the CEPR, and a Faculty Research Fellow at the NBER. Moll is a professor of economics at London School of Economics and Political Science.
Watch the full presentation below. You can also watch all Markus’ Academy webinars on the Princeton BCF YouTube channel.
[0:00] Introductory remarks
[16:16] Goals of the research
[20:37] German energy shock
[38:36] Keys to basic macro modeling
[50:16] Richer models with supply chains and international trade
[1:04:46] Order of Magnitudes calculation
[1:15:41] Other missing effects?
[1:28:06] Policy recommendations