دانلود مقاله ISI انگلیسی شماره 44717
عنوان فارسی مقاله

آیا شرکت های تولید به قیمت انرژی واکنش نشان می دهند؟ مدارک و شواهد از ایتالیا

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
44717 2015 14 صفحه PDF سفارش دهید 12270 کلمه
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Do manufacturing firms react to energy prices? Evidence from Italy
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Energy Economics, Volume 49, May 2015, Pages 168–181

کلمات کلیدی
تعویض سرمایه انرژی - جایگزینی سوخت - میکرواطلاعات - برآورد پنل
پیش نمایش مقاله
پیش نمایش مقاله آیا شرکت های تولید به قیمت انرژی واکنش نشان می دهند؟ مدارک و شواهد از ایتالیا

چکیده انگلیسی

The reaction of energy demand to price changes is a key policy issue as it describes the economy's response to changes in market conditions or to policy interventions. The issue is even more important for the Italian economy, highly exposed to energy price changes, given its almost complete fossil fuel-related energy dependence, environmental sensitivity and highly fragmented industrial structure. Besides the policy issue, there is also an important methodological debate, concerning the best way to evaluate energy demand elasticities, looking at alternative models, data and elasticity definitions. After a discussion of the main methodological issues and the related empirical literature, this paper presents an estimation of factor and fuel demand elasticities for Italian industrial firms, by using a microeconomic panel in a two-stage translog model. Using cross-price and Morishima elasticities, we obtain information on the magnitude and asymmetry of firms' responses to price changes. Moreover, the use of a micro-dataset allows the high heterogeneity of Italian firms to be considered: the results are discussed according to technology intensity, sector and firm size. Our findings show that energy is the most elastic input for all sectors and that capital and energy are substitutes in the low technology sector and weak complements in all others. Estimated interfuel elasticities show a high degree of demand sensitivity to fuel price changes and the vast majority of cross-price elasticities exhibit substitutability. Appropriate fiscal policies can thus be identified to give an effective impulse in influencing the industrial energy mix by changing relative prices. These findings constitute an important foundation for analysing energy demand by Italian industrial firms, given that empirical literature is particularly rare on the Italian case study.

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