文章基本信息

标题：Asymmetric Industrial Energy Prices and International Trade
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作者：Antoine Dechezleprêtre ; Misato Sato
期刊名称：CEP Discussion Paper
出版年度：2015
卷号：2015
语种：English
出版社：Centre for Economic Performance
摘要：This paper measures the response of bilateral trade flows to differences in industrial energy prices across countries. Using a panel for the period 1996-2011 including 42 countries, 62 sectors and covering 60% of global merchandise trade, we estimate the short-run effects of sector-level energy price asymmetry on trade. We find that changes in relative energy prices have a statistically significant but very small impact on imports. On average, a 10% increase in the energy price difference between two country-sectors increases imports by 0.2%. The impact is larger for energy-intensive sectors. Even in these sectors however, the magnitude of the effect is such that changes in energy price differences across time explain less than 0.01% of the variation in trade flows. Simulations based on our model predict that a †40-65/tCO2 price of carbon in the EU ETS would increase Europe's imports from the rest of the world by less than 0.05% and decrease exports by 0.2%.
关键词：Energy prices;international trade;carbon taxes