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Sanctions, Counter Sanctions, and Labour Market Outcomes

Student: Bella Ishmaeva

Supervisor: Fabian Slonimczyk

Faculty: International College of Economics and Finance

Educational Programme: Financial Economics (Master)

Year of Graduation: 2020

In this paper, we aim to identify the effect that Russian counter-sanctions had on the local labor markets. We start our analysis by exploring in detail what restrictions did sanctions and counter-sanctions impose on the economy. After the identification of exogenous shock in the form of the food embargo, we exploit outcomes in local labor markets. For doing so, we use RLMS survey and consider three dimensions of outcome variables: earnings, employment, and job expectations in the form of expected wages and duration of job search. Our analysis suggests that the food embargo did affect employment in exposed industries, but did not alter the earnings or expectations. Finally, we use various specifications and conduct numerous robustness checks, that does not alter our initial results.

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