KETEP 세계에너지시장정보

1. Introduction ........... 1 

2.  The TPS ........... 6 
 2.1.  Basic Features ........... 6
 2.2. Producer Behavior and Efficiency Implications ........... 7

3.  The Numerical Model ........... 10 
 3.1. Main Features ........... 10 
 3.2. Production ........... 11 
  3.2.1. Primary Factors ........... 11 
  3.2.2. Sectors and Subsectors ........... 12 
  3.2.3. State-Owned Enterprises and Administered Pricing ........... 14 
 3.3. Household Behavior ........... 15 
 3.4. Government Behavior ........... 15 
 3.5. Foreign Trade ........... 15 
 3.6. Equilibrium ........... 16 
 3.7. Dynamics ........... 16 

4.  Data and Parameters ........... 16 
 4.1. Data ........... 16 
 4.2. Parameters ........... 17 

5.  Scenarios ........... 18 

6.  Results ........... 20 
 6.1. Aggregate Impacts ........... 20 
  6.1.1. Emissions Reductions ........... 20 
  6.1.2. Aggregate Costs ........... 22 
 6.2. Sector Impacts ........... 26 
  6.2.1. Sector and Subsector Prices, Outputs, and Profits ........... 26
  6.2.2. Impacts on Renewables ........... 28
 6.3. Net Benefits ........... 29 
 6.4. Impacts of Auctioning ........... 32 
 6.5. Trade-offs between Efficiency and Distributional Impacts ........... 34

7.  Conclusions ........... 35 

8.  References ........... 37

Appendix A. Production Structure and Functional Forms ........... 43 
 A.1. Production ........... 44
 A.2. State-Owned Enterprises ........... 46 
 A.3. Administered Electricity Pricing ........... 46 
 A.4. Factor Types and Supply ........... 47 
 A.5. Inputs and Outputs ........... 48 
  A.5.1. Optimal Input Intensities ........... 48 
  A.5.2. Optimal Supply of Output ........... 49 
 A.6. Household Behavior ........... 50 
  A.6.1. Consumption ........... 50 
  A.6.2.  Investment ........... 52 
 A.7. Government Behavior ........... 54 

Appendix B.  Data and Method for Subsector Classification and Data Processing ........... 55 
 B.1. Subsector Classification ........... 55 
  B.1.1. Electricity Sector ........... 55 
  B.1.2. Cement ........... 56 
  B.1.3. Aluminum ........... 57 
  B.1.4. Iron and Steel ........... 59 
 B.2. Data Processing ........... 61 
  B.2.1. Disaggregating Sector-Level Data to the Subsector Level ........... 61 
  B.2.2. Input-Output Table Rebalance ........... 62 
 B.3. Data on Import and Export and Emissions Intensity by Sector ........... 63 

Appendix C. Parameters and Calibration Methods ........... 66 
 C.1. Production Parameters ........... 66 
  C.1.1. Substitution Elasticity Between Electricity and Other Fuels  ........... 66 
  C.1.2. Substitution Elasticity Between the Energy Composite and Factor Composite ........... 66 
  C.1.3. Parameters Related to Renewable Energy Supply ........... 70
  C.1.4. Parameters Related to SOEs ........... 72 
  C.1.5. Other Parameters ........... 77 
 C.2. Parameters Influencing Intertemporal Allocation and Dynamics ........... 79 
 C.3. Value of Benchmarks ........... 80 

Appendix D. The Significance of Pre-Existing Taxes ........... 82

Appendix E. Dynamics of a Potential Transition from a TPS to a C&T ........... 83 

Appendix F. Evaluation of PM2.5 Concentrations and Corresponding Health Cobenefits ........... 84 

Appendix G. Estimation of the Geographical Cost Distribution ........... 88

Appendix H. Sensitivity Analysis ........... 91

Appendix References ........... 97