The Effect of Chinese Energy Price Increase on Resident Consumption Level--A Research Based on the SVAR Model
ZHANG Huan 1,2,CHENG Jin-hua 1,2
(1.Mineral-Resource Strategy and Policy Research Center, China University of Geosciences, Wuhan 430074, China|2. School of Economics and Management, China University of Geosciences, Wuhan 430074, China)
Abstract Using the impulse response function of SVAR models and variance decomposition technology, the authors investigated the features of the influence of China’s energy price increase on residential consumption level within different periods. The result indicates that energy price increase has an obvious positive effect on resident consumption level during the whole impulse response period|the increase in residential consumption level has positive impact on energy price level in the short term and it has negative impact in the long term. Moreover, energy price level is mainly affected by its own level in the short term. Resident consumption level makes greater contribution to energy price level in the long time. Resident consumption level is mainly affected by its previous resident consumption level in the short term, and it is jointly affected by resident consumption level and energy price level in the long term. Based on the above conclusion, in regulating energy price and making resident consumption policy, the obvious features of the two should be considered so as to realize the balanced development of energy price level and resident consumption level
ZHANG Huan,CHENG Jin-Hua. The Effect of Chinese Energy Price Increase on Resident Consumption Level--A Research Based on the SVAR Model. Economic Survey, 2011, 28(4): 025.
2011, Vol. 28 
