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標題: The Effects of Increases in Oil Prices on Production Costs of Industries and Price Levels in Taiwan
作者: Li, Jian-Fa
Hong, Cheng-Yih
Lin, Yih-Bey
關鍵字: 產業關聯價格模型;Industry-related Price Model;最終需求原油進口密集度;國內輸入價格彈性;物價指數;Oil Import Density of Final Demand;Price Elasticity of Import;Price Index
出版社: 臺中巿:國立中興大學農業經濟研究所
Project: 應用經濟論叢, Issue 92, Page(s) 163-197.
In the present study, we develop an industry-related price model to investigate the impacts of oil prices volatility on the production costs of industries and price levels in Taiwan. The evidence shows that there are different effects of oil prices volatility on product prices across individual industries, owing to technical levels, distinct capital scales, and various dependences for crude oil. As the oil price has increased, the production costs of the petroleum chemical industry, resin industry, and synthetic fiber industry have a huge amount of increases, but the impacts apparently drop off because of change in technical level and industrial structures. Furthermore, the ability of bringing down inflation in Taiwan has lifted after the oil crisis. It follows the lower impacts of increases in oil price on price levels (consumer price index, producer price index, and corporate goods price index). In addition, the price elasticity of import gradually decreases due to change in the input technical level of imported goods and production structural adjustment. Moreover, the function of input technical changes in imported goods brings down inflation.

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