European economy, one year after the Putin shock

What would the growth of the European economy be if on 24 February 2022 Russia had not invaded Ukraine? And inflation? And interest levels? We will never know exactly. Europe, which was just recovering from the pandemic, then suffered a new supply shock, which increased production costs, weighed on real household income and accentuated the ECB's restrictive bias. In response, Europe found alternative gas suppliers and made efforts to be more energy efficient, thus avoiding shorta...