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TheImpactofEnergyPriceIncreasesonMacro-economy:
AnAnalysesbasedonCGEMethod
LinBoqiangandMouDunguo
(ChinaCenterforEnergyEconomicsResearch,XiamenUniversity)
Abstract:Inrecentyears,wehaveseengreatincreaseinenergyprices.TheimpactsofenergypriceincreasesonWesterncountrieseconomydrewgreatattention,andWesternscholarsdidalargenumberofrelatedresearch.However,veryfewresearchesonthesubjectweredoneinChina.Differentstudieshaveshownthatenergypriceshavecontractioneffectsoneconomy.Since1993,Chinabecameanetoilimportedcountry.RecentoilpriceincreaseisthefirsttimeforChinatofacetheoilpriceshock.Coalpriceshavealsokeptrisinginrecentyears.WhatkindsandhowgreatoftheimpactwillcoalandoilpriceincreaseshaveonChinaseconomyarehighlyrelatedwiththeChinaseconomiccharacteristics,andbothareimportquestionsneedgreatresearchefforttosupportmacro-policydecisionmaking.Thispaperstudiesthesequestions,particularlycomparisonsofcoalandoilpriceimpactsusingcomputablegeneralequilibrium(CGE)method,andthereforefillstheresearchgap.Theresultsshowthattheimpactsofenergypriceincreasehavecontractioneffects,andthelevelsofcontractionaredifferentsignificantlyacrossindustries.Thiswillnotonlyaffectstheeconomicgrowthbutalsoimpeltheindustrialstructurechange.FormostindustriesinChina,thecontractioneffectsofcoalare2to3timesthatofoilforthesamepriceincrease,andconclusionholdsevenforthelessenergy-intensiveserviceindustries.TheimpactdifferencesofcoalandoilareinlinewiththeobservedenergyconsumptionstructureofChina,whichcoaltakes70%andoiltakes20%oftheprimaryenergyconsumption.Thispaperputforwardsomesuggestionsonhowtodealwiththeenergypriceincreases.
KeyWords:OilPrice;CoalPrice;ContractionEffect;IndustrialStructureJELClassification:D580,Q430
(责任编辑:晓 明)(校对:晓 鸥)