| 来源类型 | Research papers
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| 规范类型 | 报告
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| An analysis of the effect of electricity tariff changes on macro-economy |
| Y. S. Lee; B. S. Choi
|
| 发表日期 | 2013-12-31
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| 出版年 | 2013
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| 语种 | 英语
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| 摘要 | ABSTRACT
The purpose of this study is to estimate the impact of electricity prices on the macroeconomy, by using a macroeconometric model. The model has two noteworthy aspects. First, the model equation system includes two channels for reflecting the impact of electricity prices:��the investment incentive and price blocks. Second, the model takes the advantage of an error-correction model in the estimate of individual equations in order to resolve spurious regression problems in the previous model.
The simulation result shows that a 5% permanent increase in the electricity price for the economy reduces real GDP by 0.09% at the initial year and 0.12% after. The finding indicates that the loss of the economy is small and partly results from our government's misleading energy pricing policies, making market failures rather than the improvement of energy efficiency.
Stabilizing price level and strengthen international competitiveness are important. But in the long-run view, we should design a scheme of energy prices by reflecting their true supply costs. In doing so, energy consumption would be not distorted. Energy pricing policies should be reformed to be market-friendly. |
| URL | http://www.keei.re.kr/web_keei/en_publish.nsf/by_report_year/FBDF88182F6ECFCE49257C75002F694E?OpenDocument
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| 来源智库 | Korea Energy Economics Institute (Republic of Korea)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/322780
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推荐引用方式
GB/T 7714 |
Y. S. Lee,B. S. Choi. An analysis of the effect of electricity tariff changes on macro-economy. 2013.
|
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