能源强度硬约束的分配效应:劳动收入份额视角

The Distributional Effect of Binding Energy Intensity Constraints:From the Perspective of Labor Income Share

实现“双碳”目标和推进共同富裕是中国在能源战略和收入分配领域实施的重要举措。本文讨论了能源强度硬约束对劳动收入份额的影响。研究结果表明,能源强度硬约束显著提升了企业的劳动收入份额,该结论经一系列稳健性检验和内生性处理后仍然成立。能源强度硬约束的劳动收入份额提升效应主要作用渠道为劳动工资风险溢价、劳动-机器资本替代以及劳动议价能力,且该效应存在地区劳动保障制度和企业市场势力异质性。进一步分析发现,宽松的降碳约束没有显著增加劳动收入份额,而能源强度硬约束有助于缩小收入差距。以上结论为优化兼顾公平与效率的节能降碳政策提供了理论依据,同时也为多目标下的政策协同提供了经验借鉴。

Achieving“dual carbon”goals and promoting common prosperity are key measures in China's energy strategy and income distribution.This paper discusses the impact of binding energy intensity constraints on the share of labor income.Research shows that binding energy intensity constraints significantly increase the share of labor income in enterprises,and this conclusion holds true even after various robustness tests and addressing endogeneity.The main ways binding energy intensity constraints increase labor income share are through labor wage risk premium,labor-machine capital substitution,and labor bargaining power,and this effect varies depending on regional labor protection systems and the market power of enterprises.Further analysis shows that non-binding carbon reduction constraints do not significantly increase labor income share,whereas binding energy intensity constraints help reduce income disparity.These conclusions provide a theoretical basis for optimizing energy-saving and carbon-reduction policies that balance fairness and efficiency,and offer empirical insights for coordinating policies with multiple objectives.