Brookings Podcast on Economic Activity cover image

How did Germany fare without Russian gas?

Brookings Podcast on Economic Activity

CHAPTER

The Power of Substitution and its Impact on Macroeconomic Effects

This chapter discusses the findings of a paper on the macro output reduction caused by a lack of substitution possibilities. It emphasizes the importance of a little substitutability in macro output and explores the geopolitical implications of the study.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner