分位数回归
经济
分位数
计量经济学
汽车工业
石油价格
产业组织
货币经济学
工程类
航空航天工程
作者
Kai‐Hua Wang,Chi‐Wei Su,Yidong Xiao,Lu Liu
出处
期刊:Energy
[Elsevier]
日期:2022-02-01
卷期号:240: 122501-122501
被引量:36
标识
DOI:10.1016/j.energy.2021.122501
摘要
This paper discusses the heterogeneous responses of fuel, electric and plug-in hybrid electric vehicle sales to different time frequencies of oil prices using wavelet multiscale decomposition and quantile-on-quantile methods. The empirical results show that the link between oil prices and vehicle sales in each subsector of the automobile market varies, and the coefficients change and even present opposite directions at different quantiles and frequencies of the oil price. The major contribution of this paper is that the heterogeneities of oil price time frequencies, subdivided automobile markets and policy implications are fully considered, which can provide more accurate and valuable conclusions. Policy implications are further provided to alleviate external shocks from oil prices. Government plans for clean energies should be considered a cornerstone in establishing automobile industry policies. Subsidies, especially green technologies, are also necessary for fuel vehicle manufacturers to develop highly efficient engines and consequently reduce oil consumption. In addition, China's energy pricing mechanism needs to be reformed to prevent disconnection between domestic oil products and international oil markets.
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