Submitted by Junhee Park on February 27, 2023 - 1:47pm
The invasion of Ukraine prompted the governments of many countries to impose economic sanctions on Russia. Economic warfare is not new, but the current scenario differs from past experiences: It is not since the 1930s that sanctions have been imposed on a large economy, Russia is a key commodity exporter, and the world economy is much more integrated than in the past. This makes it necessary to use new frameworks to understand the effects of sanctions on the targeted economy and on the rest of the world, and to provide guidance for policy. This seminar will explain the ongoing development of one such framework, its results, and the plans for its future extensions.