CEPR Germany

Supporting Information Filename Description iere12685-sup-0001-OnlineAppendix.pdf697.8 KB Table B.1: Estimation Results for Household Net Income-Standardized Moments Figure B.1: Fit of Estimated Process for Household Net Income: Standardized Moments Table B.2: Moments of Income Changes Table B.3: Estimation Results for Household Pre-Government Income Table B.4: Estimation Results for Household Pre-Government Income-Standardized Moments Table B.5: Estimation Results for Robustness...

1 INTRODUCTION Economic sanctions have become an important foreign policy tool in recent years (Felbermayr, Kirilakha, et al., 2020; Felbermayr, Syropoulos, et al., 2020). The year 2014 marked a turning point in the foreign policy relations with Russia: The annexation of the Crimean Peninsula by Russia and the continuing armed conflict in eastern Ukraine placed considerable harm on Russia's political relations with the European Union (EU) and with other Western countries.