{"title":"Economic effects of shocks in the coal industry: An analysis based on DSGE model","authors":"","doi":"10.1016/j.resourpol.2024.105315","DOIUrl":null,"url":null,"abstract":"<div><p>This paper examines the impact of the coal sector on the economy from the perspective of industry shocks. Existing research primarily focuses on the relationship between coal consumption and the economy. An 8-sector dynamic stochastic general equilibrium (DSGE) model is constructed, based on China's input-output tables from 2005 to 2020, to depict the economic effects of coal sector shocks. The research findings are: (1) The DSGE model reveals a close connection between the coal industry and the macroeconomy. (2) The coal sector shocks have the largest impact on the electricity sector. (3) Coal sector shocks primarily affect the macroeconomy through non-energy manufacturing sectors. (4) As the economic development level increases, the influence of coal sector shocks on the macroeconomy gradually diminishes. The econometric analysis indicates that the role of coal is no longer significant in the high stage of economic development. The results of the panel quantile regression model also show the same result. Based on these conclusions, this paper suggests that as China gradually enters a new stage of development, it can gradually reduce coal consumption.</p></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":null,"pages":null},"PeriodicalIF":10.2000,"publicationDate":"2024-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Resources Policy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0301420724006822","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"0","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
This paper examines the impact of the coal sector on the economy from the perspective of industry shocks. Existing research primarily focuses on the relationship between coal consumption and the economy. An 8-sector dynamic stochastic general equilibrium (DSGE) model is constructed, based on China's input-output tables from 2005 to 2020, to depict the economic effects of coal sector shocks. The research findings are: (1) The DSGE model reveals a close connection between the coal industry and the macroeconomy. (2) The coal sector shocks have the largest impact on the electricity sector. (3) Coal sector shocks primarily affect the macroeconomy through non-energy manufacturing sectors. (4) As the economic development level increases, the influence of coal sector shocks on the macroeconomy gradually diminishes. The econometric analysis indicates that the role of coal is no longer significant in the high stage of economic development. The results of the panel quantile regression model also show the same result. Based on these conclusions, this paper suggests that as China gradually enters a new stage of development, it can gradually reduce coal consumption.
期刊介绍:
Resources Policy is an international journal focused on the economics and policy aspects of mineral and fossil fuel extraction, production, and utilization. It targets individuals in academia, government, and industry. The journal seeks original research submissions analyzing public policy, economics, social science, geography, and finance in the fields of mining, non-fuel minerals, energy minerals, fossil fuels, and metals. Mineral economics topics covered include mineral market analysis, price analysis, project evaluation, mining and sustainable development, mineral resource rents, resource curse, mineral wealth and corruption, mineral taxation and regulation, strategic minerals and their supply, and the impact of mineral development on local communities and indigenous populations. The journal specifically excludes papers with agriculture, forestry, or fisheries as their primary focus.