国内政策【切换】 国际政策

The determinants of aggregated electricity in China

【ABSTRACT点击下载此文件】This study provides technological change, factor demand and inter-factor substitutability measures forChina electricity industry. We use individual fuel price data and translog factor cost function approachto estimate total factor cost functions and fuel share equations. The implied price and Morishima substi-tution elasticities for inter-factor are obtained. By estimating the substitution between factors, we try toexplore the driving forces of aggregate electricity intensity. The results suggest that energy is substitut-able to capital and complementary to labor regarding cross-price elasticity. Capital is Morishima substi-tution for energy and labor is complement to energy. Factor substitution, budget and technology effectscontribute to the year-to-year volatility of electricity intensity in the proportion 62.5%:20.06%:17.44%.