372 KB0 KB200620262024Aleksandrov, AleksandarAngelova, GerganaTodorov, Ivanštevilka:3letnik:70str. 71-82ISSN:0547-3101DOI:10.2478/ngoe-2024-0017COBISSID_HOST:237801475URN:URN:NBN:SI:doc-SO5F5C9QenDruštvo ekonomistov MariborEkonomski center MariborEkonomsko-poslovna fakultetaNaše gospodarstvocovid-19economic effectsEuropean UnionEvropska unijagospodarski učinkivojna v Ukrajiniwar in UkraineTransformative economic challenges| the impact of COVID-19 and the war in Ukraine on the European Union|This paper aims to explore the economic effects of the COVID-19 pandemic and the war in Ukraine on the twenty-seven European Union (EU) member states, known as the EU-27. A vector autoregression (VAR) of quarterly data for the period 2020–2022 was employed to study the impact of the coronavirus and the Russian invasion of Ukraine on growth, unemployment and inflation in the EU-27. The results from the empirical analysis indicated that the war in Ukraine lowered growth and raised inflation and unemployment, while the COVID-19 pandemic did not affect growth, increased unemployment and decreased inflation in the EU-27. It may be concluded that the war in Ukraine shifted the EU aggregate supply curve to the left, whereas the coronavirus pandemic resulted in inflation-unemployment trade-off in the EUNamen članka je raziskati gospodarske učinke pandemije covid-19 in vojne v Ukrajini na sedemindvajset držav članic Evropske unije (EU-27). Za preučevanje vpliva koronavirusa in ruske invazije na Ukrajino na rast, brezposelnost in inflacijo v EU-27 je bila uporabljena metoda vektorske avtoregresije (VAR) na četrtletnih podatkih za obdobje 2020–2022. Rezultati empirične analize so pokazali, da je vojna v Ukrajini zmanjšala gospodarsko rast ter povečala inflacijo in brezposelnost, medtem ko pandemija covid-19 ni vplivala na rast, povečala je brezposelnost in znižala inflacijo v EU-27. Zaključimo lahko, da je vojna v Ukrajini premaknila agregatno krivuljo ponudbe EU v levo, medtem ko je pandemija koronavirusa povzročila kompromis med inflacijo in brezposelnostjo v EUTEXTznanstveno časopisjejournalsSlovenian National E-content AggregatorNational and University Library of SloveniaUniverza v Mariboru, Ekonomsko-poslovna fakulteta