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首页> 外文期刊>Empirical Economics >Supply-side effects of strong energy price hikes in German industry and transportation
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Supply-side effects of strong energy price hikes in German industry and transportation

机译：能源价格大幅上涨对德国工业和交通运输的供应方面的影响

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This article studies the short-term effects of energy price hikes on the supply of industrial goods and transport services including the repercussions on remuneration of input factors. The empirical analysis is based on a theoretical model, which assumes that the output good is produced by capital, labour and energy according to a nested production function framework where capital and energy are combined by a CES function at the intermediate stage. The output responses to energy price changes are derived, using estimates of the elasticity of substitution. While industry suffered more from the oil price shock of the late 1970s than from that of the early 1970s and the 2004-2008 upsurge, evidence suggests the reverse for transportation. Regarding the impact on income distribution, both sectors share the same pattern, whereby in the recent episode, rising energy costs were more than compensated by falling unit labour costs, while in the 1970s, cost structures had been strained by an expansive wage policy in addition to the oil price shocks.
机译：本文研究了能源价格上涨对工业产品和运输服务的短期影响，包括对投入要素报酬的影响。实证分析基于理论模型，该模型假设产出商品是由资本，劳动力和能源根据嵌套生产函数框架生产的，其中嵌套的资本和能量在中间阶段通过CES函数进行组合。使用替代弹性的估计值得出对能源价格变化的输出响应。尽管与1970年代初和2004-2008年的高潮相比，1970年代后期的石油价格冲击给工业带来的冲击更大，但有证据表明交通运输的逆转。关于对收入分配的影响，这两个部门具有相同的模式，在最近的事件中，能源成本的上升被单位劳动力成本的下降所弥补，而在1970年代，成本结构又受到扩张性工资政策的压力。给石油价格带来冲击。

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