Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/302103 
Year of Publication: 
2023
Citation: 
[Journal:] Review of International Economics [ISSN:] 1467-9396 [Volume:] 32 [Issue:] 1 [Publisher:] Wiley [Place:] Hoboken [Year:] 2023 [Pages:] 281-323
Publisher: 
Wiley, Hoboken
Abstract: 
This paper evaluates the effects of sanctions on Russia between 2014 and 2019 and the resulting countersanctions. We estimate their impact on trade in a gravity framework, allowing for treatment heterogeneity among pairs and sectors, and use the estimated elasticities in a general equilibrium analysis. We find that the sanctions decreased trade with Russia in key sectors, translating to a loss in real income in Russia by 0.3%. Full decoupling of the EU and its allies from Russia would increase this effect to over 4%. Our results emphasize the role of deep sanctions as a foreign policy instrument and international cooperation.
Subjects: 
general equilibrium
sanctions
structural gravity
treatment heterogeneity
JEL: 
F1
F13
F14
F5
F51
H5
N4
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Article
Document Version: 
Published Version

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