Is refined oil price regulation a "shock absorber" for crude oil price shocks?

doi:10.1016/j.enpol.2022.113369

	Is refined oil price regulation a "shock absorber" for crude oil price shocks?
	Zhang, Qi 2,3; Hu, Yi 1,3; Jiao, Jianbin 2; Wang, Shouyang 3,4
刊名	ENERGY POLICY
	2023-02-01
卷号	173 页码:15
关键词	Refined oil price regulation Oil price Asymmetries China
ISSN号	0301-4215
DOI	10.1016/j.enpol.2022.113369
英文摘要	This paper explores whether the government's control of refined oil prices can slow down this impact and play a "shock absorber" function. Adopting the SVAR model and divides the sample into two sub-samples according to the level of price regulation, it is found that the degree of price regulation of refined oil is very high before May 2009. At this time, the price regulation seriously hinders economic growth when the oil price falls. After May 2009, the degree of refined oil price control has been greatly reduced, and price control promotes the increase in industrial investment and GDP to a certain extent when oil prices rise and fall, and plays the function of "shock absorber". In the post epidemic era, in the face of the current geopolitical conflict, it is necessary to continue to implement refined oil price control measures in line with China's situation in the short term, and gradually release oil price control in the long run to form a market price reflecting the relationship between supply and demand. In addition, it is necessary to improve and develop China's crude oil futures market as soon as possible and establish a modern oil circulation system.
资助项目	National Natural Science Foundation of China ; [72073124]
WOS研究方向	Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
语种	英语
出版者	ELSEVIER SCI LTD
WOS记录号	WOS:000897044200003
内容类型	期刊论文
源URL	[http://ir.amss.ac.cn/handle/2S8OKBNM/60500]
专题	中国科学院数学与系统科学研究院
通讯作者	Hu, Yi
作者单位	1.Chinese Acad Sci, Key Lab Big Data Min & Knowledge Management, Beijing 100190, Peoples R China 2.Univ Chinese Acad Sci, Sch Emergency Management Sci & Engn, Beijing 100190, Peoples R China 3.Univ Chinese Acad Sci, Sch Econ & Management, Beijing 100190, Peoples R China 4.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Zhang, Qi,Hu, Yi,Jiao, Jianbin,et al. Is refined oil price regulation a "shock absorber" for crude oil price shocks?[J]. ENERGY POLICY,2023,173:15.
APA	Zhang, Qi,Hu, Yi,Jiao, Jianbin,&Wang, Shouyang.(2023).Is refined oil price regulation a "shock absorber" for crude oil price shocks?.ENERGY POLICY,173,15.
MLA	Zhang, Qi,et al."Is refined oil price regulation a "shock absorber" for crude oil price shocks?".ENERGY POLICY 173(2023):15.