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A CGE Analysis of Oil Price Change

Author

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  • Meng Li

    (College of Economics, Shenzhen University, Shenzhen 518060, China)

Abstract

As Chinese economy system has been depended more on the import of petroleum with the development of China, the change in the price of international oil have caused concern among economists and policy makers. This paper is to present a financial Computable General Equilibrium (CGE) model of the Chinese economy which integrates real economy and financial sectors, and to apply it to quantitatively evaluate the impacts on Chinese economy caused by international oil price changes. And the model endogenously determines the exchange rate, covering fixed, partially flexible, and completely flexile exchange rate system to consider the effect of foreign oil price changes from the point of view of macro and industrial aspects. Finally, this paper presents concluding remarks.

Suggested Citation

  • Meng Li, 2010. "A CGE Analysis of Oil Price Change," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 5(1), pages 96-113, March.
    • Handle: RePEc:fec:journl:v:5:y:2010:i:1:p:96-113
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    File URL: http://journal.hep.com.cn/fec/EN/10.1007/s11459-010-0005-4
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    More about this item

    Keywords

    oil price; CGE model; economic system; policy simulation;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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