The impact of relative energy prices on industrial energy consumption in China: a consideration of inflation costs

Yan, Gong; Bian, Weijun

doi:10.1080/1331677x.2022.2154238

Cited by 3 publications

(2 citation statements)

References 47 publications

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“…With inflation costs as their primary stimulus, Lingyun, Zhihua, Fang, and Meng [13] studied China's energy consumption in response to relative energy prices. The research covered the years 1988-2012.…”

Section: Literature Reviewmentioning

confidence: 99%

Petroleum Products Pricing and Price Stability in Nigeria: An ARDL Investigation

Abdullahi,

Alwell,

Ijeoma

2024

AJARR

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This study employed the Autoregressive Distributed lag (ARDL) technique to investigate the effect of petroleum products pricing on price level in Nigeria over the period 1990 – 2022. In order to achieve the purpose of the study, data on inflation rate, price of premium motor spirit, price of automotive gas oil, price of household kerosene, price of compressed natural gas and price of crude oil were sourced from secondary source. The results of our analysis revealed that: in the long run, prices of Premium motor spirit and compressed natural gas retarded inflation level marginally while prices of automotive gas oil, dual purpose kerosene and crude oil spurred general price level marginally. Prices of premium motor spirit and compressed natural gas fueled inflation in the short run significantly while prices of automotive gas oil and crude retarded general price level. Price of dual-purpose kerosene had mixed but significant effect on price level. The study also found that a long run nexus existed between petroleum product prices and price level in Nigeria. Petroleum product prices had serious implications on the Nigeria’s economy in the short run than long run. Based on this conclusion, the study recommended Increase investment in the downstream petroleum sector and strengthening existing policies in the oil and gas sector as possible measures towards stabilizing price level in Nigeria.

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Section: Literature Reviewmentioning

confidence: 99%

Petroleum Products Pricing and Price Stability in Nigeria: An ARDL Investigation

Abdullahi,

Alwell,

Ijeoma

2024

AJARR

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“…The relative change in energy prices influencing domestic inflation is evident through the industrial sector's energy consumption. Yan and Bian (2023) state that rapid changes in energy prices positively impact inflation when energy consumption in the industrial sector in China overgrows. Rizvi and Sahminan (2020) empirically prove that oil and energy prices significantly impact domestic inflation in Brazil, Russia, India, Indonesia, China, and South Africa.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Asymmetric Effects of World Energy Prices on Inflation in Indonesia

Arintoko,

Badriah,

Rahajuni

et al. 2023

IJEEP

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This study analyzes the asymmetric effect of changes in world energy prices, which include crude oil, natural gas, and coal prices, and the exchange rate on consumer price index (CPI) inflation in Indonesia. The models used in the analysis are quantile regression and dynamic ordinary least squares. The period studied is monthly in the period 2001M01 - 2022M12. The study results show that world crude oil prices have asymmetrically positive effects on CPI inflation when world oil prices increase and decrease. The fall in the price of crude oil has a more significant effect than the increase. The asymmetric impact of world crude oil prices on CPI inflation was also found between lower and middle quantiles. However, the short-run impact of rising crude oil prices is only found in the 7th quartile. So, the long-run effect is more dominant than the short-run effect. The role of the fuel subsidy policy, which the government manages, is beneficial in reducing inflationary fluctuations originating from fluctuations in world crude oil prices. Efforts to develop oil refineries in Indonesia that need to be done to reduce imports of crude oil and fuel are expected to be able to reduce the impact of world oil price fluctuations on domestic inflation in the future.

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The Asymmetric Effects of Global Energy and Food Prices, Exchange Rate Dynamics, and Monetary Policy Conduct on Inflation in Indonesia

Arintoko,

Badriah,

Kadarwati

2024

ECO

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This research analyzes the asymmetric effects of global energy and food prices and monetary variables, including the exchange rate and money supply, on the consumer price index (CPI). The model is intended to differentiate the influence of increases and decreases in global energy and food prices, exchange rates, and money supply which cause inflation/deflation from changes in the CPI. The analysis uses the Nonlinear Autoregressive Distributed Lag (NARDL) and Quantile Regression models on data from January 2001 to February 2023. The study results show that the decline in global energy prices significantly reduces the CPI in the long run. Energy subsidies allow increases in international energy prices not to increase the CPI significantly. Meanwhile, the increase in global food prices causes inflation in the short run. The exchange rate has the most significant effect on the CPI. Depreciation of the rupiah significantly increases the CPI, which means it causes inflation, while appreciation of the rupiah does not have a significant effect. Finally, increases and decreases in the money supply have a considerable positive effect on the CPI, which confirms the logic of the monetarist view that inflation is a monetary phenomenon. Efforts to reduce dependence on imports of food and energy commodities are the key to reducing risks when importing energy and food due to rupiah depreciation. Efforts to consistently stabilize the exchange rate can support controlling and stabilizing import prices. Energy and food subsidy policies are vital in controlling inflation due to increased world energy and food prices.

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The impact of relative energy prices on industrial energy consumption in China: a consideration of inflation costs

Cited by 3 publications

References 47 publications

Petroleum Products Pricing and Price Stability in Nigeria: An ARDL Investigation

Petroleum Products Pricing and Price Stability in Nigeria: An ARDL Investigation

Asymmetric Effects of World Energy Prices on Inflation in Indonesia

The Asymmetric Effects of Global Energy and Food Prices, Exchange Rate Dynamics, and Monetary Policy Conduct on Inflation in Indonesia

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