The Chinese government has set ambitious targets to reduce the per unit of GDP by 40% ~45% during 2005 to 2020 and achieve the intensity peaking of carbon emissions of CO2 emissions a- round 2030. The T21 national dev...The Chinese government has set ambitious targets to reduce the per unit of GDP by 40% ~45% during 2005 to 2020 and achieve the intensity peaking of carbon emissions of CO2 emissions a- round 2030. The T21 national development model for China was developed for the purpose of analy- zing the effects of long-term national policies that relate to carbon emissions, loss of farm land, water shortage, energy security, food security, and their contributions to this reduction target. The focus of this paper is on the policies that have substantial impacts on carbon emissions from fossil fuels. Four scenarios are developed with the model to simulate future carbon emissions ： 1 ） the BAU （ busi- ness as usual） scenario, showing the likely results of continuing current policies; 2 ） the TECH （technology） scenario showing the effects of more investment in renewable energy sources and promoting more energy efficient technologies; 3 ） the BEHAVIOR scenario, showing how government tax and price policies, together with public education programs, would instigate behaviour changes towards more sustainable living; and 4 ） the TECH＆BEHA scenario, which shows the results of combining scenarios 2 and 3. The simulation results show that CO2 emissions reduction targets of China are achievable, but also require great effort to put in.展开更多
The purpose of this study is to analyze economic impacts of reducing greenhouse gases emissions significantly. A large amount of emissions reductions are required throughout this century to avoid dangerous climate cha...The purpose of this study is to analyze economic impacts of reducing greenhouse gases emissions significantly. A large amount of emissions reductions are required throughout this century to avoid dangerous climate change, and understanding the economic consequences under such situations is important and meaningful. The AIM/CGE [Global] model, a recursive dynamic computable general equilibrium model on a global scale, is applied to analyze carbon prices and changes in GDP when implementing five policy scenarios represented by emissions pathways, respectively. As a result of the analysis, higher carbon prices and larger decreases in GDP compared to the baseline emissions scenario are observed when emissions are reduced more deeply. However, such GDP losses are rather small and insignificant compared to the GDP growth observed throughout the century. These results suggest that although it is challenging to reduce emissions until the level to avoid dangerous climate change, there is a sufficient possibility to achieve it from economic perspectives.展开更多
Accurate carbon price forecasting is essential to provide the guidance for production and investment.Current research is mainly dependent on plenty of historical samples of carbon prices,which is impractical for the n...Accurate carbon price forecasting is essential to provide the guidance for production and investment.Current research is mainly dependent on plenty of historical samples of carbon prices,which is impractical for the newly launched carbon market due to its short history.Based on the idea of transfer learning,this paper proposes a novel price forecasting model,which utilizes the correlation between the new and mature markets.The model is firstly pretrained on large data of mature market by gated recurrent unit algorithm,and then fine-tuned by the target market samples.An integral framework,including complexity decomposition method for data pre-processing,sample entropy for feature selection,and support vector regression for result post-processing,is provided.In the empirical analysis of new Chinese market,the root mean square error,mean absolute error,mean absolute percentage error,and determination coefficient of the model are 0.529,0.476,0.717%and 0.501 respectively,proving its validity.展开更多
This paper provides a computation on both the China＇s aggregate CO2 emission volume and the emission of each sector over the period of 2002-2007, based on the input-output analysis. Further analysis is also given on ...This paper provides a computation on both the China＇s aggregate CO2 emission volume and the emission of each sector over the period of 2002-2007, based on the input-output analysis. Further analysis is also given on the various determinants of the change in the emission volume, with the aid of structural decomposition analysis （SDA） based on a residual-free method. Based on the input-output table of China in 2002 and 2007, the merge of sectors and the adjustment of price change have been made during the study. The emissions of carbon dioxide in China increased from 2,887.3 million ton to 5,664.6 million ton during 2002-2007. The average rate of increase is 13.3%, faster than the average rate of gross domestic product （GDP） growth 11.6% slightly. According to the process of SDA, the changes in emission are analyzed in terms of four different factors. Among the four factors studied in the paper, it is found that the change of emission intensity and structure of demand are the main reason of the decrease of emission, while production technology and scale effect increase the emission volume. The paper also finds that although the direct emission intensity decreased during the study period, the total emission intensity increased with the annual rate of 3.8%, which reflects the result of energy policy is not equal in different sectors.展开更多
As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environ...As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environmental sustainability. This paper investigates the impacts of oil price shocks upon Australia＇s gross domestic product （GDP） growth, Gini coefficients, and carbon dioxide emissions per capita from 1970 to 2012 with yearly frequency. Hypotheses concerning whether Australia＇s economic immunity against oil crisis is affected after the deregulation of oil market and whether endogenous oil price shocks account for more variations in human welfare than exogenous oil price shocks are tested. The methodologies include a theoretic model and a series of econometric tests. For the short-run dynamics, oil price is integrated into the model both linearly and non-linearly. Oil price shocks are categorized into exogenous and endogenous shocks. The conclusions are that inflated oil prices exert mainly non-linear negative impacts upon human welfare indicators and exogenous shocks induce endogenous shocks through labor price, Consumer Price Index （CPI）, interest rate, and exchange rate. For the long-run equilibrium, non-linear shocks＇ effects decay more slowly than linear shocks and the impacts of endogenous shocks last longer than that of exogenous shocks. Finally, oil market policies are evaluated and proposed.展开更多
基金Supported by the National Science&Technology Pillar Program(No.2012BAC20B09)
文摘The Chinese government has set ambitious targets to reduce the per unit of GDP by 40% ~45% during 2005 to 2020 and achieve the intensity peaking of carbon emissions of CO2 emissions a- round 2030. The T21 national development model for China was developed for the purpose of analy- zing the effects of long-term national policies that relate to carbon emissions, loss of farm land, water shortage, energy security, food security, and their contributions to this reduction target. The focus of this paper is on the policies that have substantial impacts on carbon emissions from fossil fuels. Four scenarios are developed with the model to simulate future carbon emissions ： 1 ） the BAU （ busi- ness as usual） scenario, showing the likely results of continuing current policies; 2 ） the TECH （technology） scenario showing the effects of more investment in renewable energy sources and promoting more energy efficient technologies; 3 ） the BEHAVIOR scenario, showing how government tax and price policies, together with public education programs, would instigate behaviour changes towards more sustainable living; and 4 ） the TECH＆BEHA scenario, which shows the results of combining scenarios 2 and 3. The simulation results show that CO2 emissions reduction targets of China are achievable, but also require great effort to put in.
文摘The purpose of this study is to analyze economic impacts of reducing greenhouse gases emissions significantly. A large amount of emissions reductions are required throughout this century to avoid dangerous climate change, and understanding the economic consequences under such situations is important and meaningful. The AIM/CGE [Global] model, a recursive dynamic computable general equilibrium model on a global scale, is applied to analyze carbon prices and changes in GDP when implementing five policy scenarios represented by emissions pathways, respectively. As a result of the analysis, higher carbon prices and larger decreases in GDP compared to the baseline emissions scenario are observed when emissions are reduced more deeply. However, such GDP losses are rather small and insignificant compared to the GDP growth observed throughout the century. These results suggest that although it is challenging to reduce emissions until the level to avoid dangerous climate change, there is a sufficient possibility to achieve it from economic perspectives.
文摘Accurate carbon price forecasting is essential to provide the guidance for production and investment.Current research is mainly dependent on plenty of historical samples of carbon prices,which is impractical for the newly launched carbon market due to its short history.Based on the idea of transfer learning,this paper proposes a novel price forecasting model,which utilizes the correlation between the new and mature markets.The model is firstly pretrained on large data of mature market by gated recurrent unit algorithm,and then fine-tuned by the target market samples.An integral framework,including complexity decomposition method for data pre-processing,sample entropy for feature selection,and support vector regression for result post-processing,is provided.In the empirical analysis of new Chinese market,the root mean square error,mean absolute error,mean absolute percentage error,and determination coefficient of the model are 0.529,0.476,0.717%and 0.501 respectively,proving its validity.
文摘This paper provides a computation on both the China＇s aggregate CO2 emission volume and the emission of each sector over the period of 2002-2007, based on the input-output analysis. Further analysis is also given on the various determinants of the change in the emission volume, with the aid of structural decomposition analysis （SDA） based on a residual-free method. Based on the input-output table of China in 2002 and 2007, the merge of sectors and the adjustment of price change have been made during the study. The emissions of carbon dioxide in China increased from 2,887.3 million ton to 5,664.6 million ton during 2002-2007. The average rate of increase is 13.3%, faster than the average rate of gross domestic product （GDP） growth 11.6% slightly. According to the process of SDA, the changes in emission are analyzed in terms of four different factors. Among the four factors studied in the paper, it is found that the change of emission intensity and structure of demand are the main reason of the decrease of emission, while production technology and scale effect increase the emission volume. The paper also finds that although the direct emission intensity decreased during the study period, the total emission intensity increased with the annual rate of 3.8%, which reflects the result of energy policy is not equal in different sectors.
文摘As an active trader in international crude oil and petroleum product markets, Australia＇s human welfare is affected by oil crisis and contagion from the perspectives of economic growth, income inequality, and environmental sustainability. This paper investigates the impacts of oil price shocks upon Australia＇s gross domestic product （GDP） growth, Gini coefficients, and carbon dioxide emissions per capita from 1970 to 2012 with yearly frequency. Hypotheses concerning whether Australia＇s economic immunity against oil crisis is affected after the deregulation of oil market and whether endogenous oil price shocks account for more variations in human welfare than exogenous oil price shocks are tested. The methodologies include a theoretic model and a series of econometric tests. For the short-run dynamics, oil price is integrated into the model both linearly and non-linearly. Oil price shocks are categorized into exogenous and endogenous shocks. The conclusions are that inflated oil prices exert mainly non-linear negative impacts upon human welfare indicators and exogenous shocks induce endogenous shocks through labor price, Consumer Price Index （CPI）, interest rate, and exchange rate. For the long-run equilibrium, non-linear shocks＇ effects decay more slowly than linear shocks and the impacts of endogenous shocks last longer than that of exogenous shocks. Finally, oil market policies are evaluated and proposed.
