The role of renewables in smoothing the impact of oil and gas price shocks on inflation: The LAC experience

IF 10.2 2区经济学 0 ENVIRONMENTAL STUDIES

Resources Policy Pub Date : 2025-04-29 DOI:10.1016/j.resourpol.2025.105577

Magdalena Cornejo , Michelle Hallack , David Matias

引用次数: 0

Abstract

This paper examines the role of renewable electricity adoption in mitigating the impact of international fossil fuel price shocks on inflation in Latin America and the Caribbean (LAC), the region with the highest proportion of renewables in its energy mix. Utilizing data from 18 LAC countries spanning 2005 to 2021, we show that renewable electricity significantly reduces the transmission of fossil fuel price shocks to both energy-specific and overall inflation. Our findings indicate that countries with larger shares of renewable electricity generation experience notably smaller inflationary impacts in response to fluctuations in global oil prices. These results underscore the positive externalities of renewable energy investment, particularly its potential to reduce the transmission of global energy price volatility to local inflation.

查看原文本刊更多论文

可再生能源在缓解油气价格冲击对通胀的影响中的作用：拉美和加勒比地区的经验

本文考察了可再生能源电力在缓解国际化石燃料价格冲击对拉丁美洲和加勒比地区（LAC）通胀影响方面的作用，该地区是可再生能源在其能源结构中所占比例最高的地区。利用2005年至2021年18个拉丁美洲和加勒比地区国家的数据，我们发现可再生电力显著减少了化石燃料价格冲击对特定能源和整体通胀的传导。我们的研究结果表明，可再生能源发电份额较大的国家在应对全球油价波动时受到的通胀影响明显较小。这些结果强调了可再生能源投资的积极外部性，特别是它有可能减少全球能源价格波动对当地通货膨胀的传导。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Resources Policy ENVIRONMENTAL STUDIES-

CiteScore

13.40

自引率

23.50%

发文量

602

审稿时长

69 days

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.