Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/323972 
Year of Publication: 
2024
Citation: 
[Journal:] Journal of Economic Behavior & Organization [ISSN:] 1879-1751 [Volume:] 225 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2024 [Pages:] 483-521
Publisher: 
Elsevier, Amsterdam
Abstract: 
This study leverages daily web-scraped data to evaluate the impact of economic sanctions following Russia’s invasion of Ukraine on consumer prices and product availability across different goods categories. We find that international sanctions significantly disrupted Russian price dynamics, with the exchange rate serving as the primary transmission mechanism. Utilizing granular online data allows us to circumvent potential misreporting and track real-time economic indicators at high frequency. Our analysis uncovers heterogeneous effects across product groups, with sanctions associated with an average increase of 11.7 percentage points in the Russian CPI. The results highlight how trade policies and geopolitical events can rapidly propagate through retail markets, underscoring the importance of timely price monitoring during periods of economic turbulence. More broadly, we demonstrate the value of online data for evaluating policy shocks, paving the way for similar applications in other contexts.
Subjects: 
Political economy
Online prices
Product availability
Sanctions
Conflict
Russia
Ukraine
War
Big data
Russo-Ukrainian war
Product prices
JEL: 
E21
E31
F13
F38
F51
D74
P16
C81
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Manuscript Version (Preprint)
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