The effect of energy price adjustment on the economy and investment of urban society
(Case Study of Iran)
Subject Areas :
Journal of Investment Knowledge
vahid sadeghi hasanvand
1
,
narciss aminrashti
2
,
Marjan Damankeshideh
3
,
azadeh mehrabiyan
4
1 - Ph.D. student Economics, Islamic Azad University, Tehran Center
2 - Assistant Professor of Islamic Azad University, Tehran Center
3 - Assistant Professor of Islamic Azad University Tehran Branch
4 - Assistant Professor of Islamic Azad University Tehran Branch
Received: 2019-09-15
Accepted : 2019-12-17
Published : 2022-03-21
Keywords:
Energy carriers price,
Family economy,
Threshold effect,
Welfare index,
Abstract :
The purpose of this study is to investigate the effect of energy carriers price adjustment on economy with emphasis on welfare index and study the effect of it on urban household investment share. For this purpose, by using the information of the Iranian urban household budget during the period from 1988 to 2017, based on the theories related to the measurement of consumer welfare changes, the formula of compensatory changes in the framework of an almost ideal demand system is derived. Then, after estimating the demand system parameters, the welfare index criterion is calculated separately for each energy carriers. In the next step, the effect of adjusting the price of energy carriers on the share of investment in household budget is estimated by threshold regression model. The results show that by increasing the actual price of each energy carrier relative to the total energy expenditure, the share of its energy carrier expenditure will be increased. Among the self-price coefficients, electricity has the largest coefficient and the lowest coefficient is belong to the petroleum products. Self-price elasticities of electricity, gas, gasoline and petroleum products is -0.33, -0.59, 0.92, and -1.14, respectively. Price adjustments of energy carriers are causing welfare losses for urban households, depending on their price elasticity and the share of energy carriers. By assesing the linear and non-linear relationship between energy carrier price index and household investment share, the results confirm a positive and nonlinear relationship between investment share and energy carrier price index.
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