The evolution and implications of national energy cost shares
构建全球数据集研究国家能源成本份额随时间的变化及其与能源价格的关系，发现经济体通过技术创新应对高能源价格的能力强但调整时间很长，且能源效率政策和宏观经济特征有助于缓解成本份额过度上升。
Energy cost share is a key indicator to assess the importance of energy in an economy, to highlight the potential exposure of energy-importing countries to international price shocks, and to understand the implications for the national economy of introducing carbon pricing or energy subsidies reforms. We construct a global dataset to study the evolution of national energy cost shares over time and their relationship with energy prices. On these data we estimate a theoretically grounded econometric model and we obtain a wide set of findings that have important implications for policy. The main findings are that economies have a strong capacity to respond to higher energy prices also through technological innovation, but the time for this adjustment can be very long; the ability to reduce energy intensity in response to higher energy prices has improved over time; both energy efficiency policies and certain macroeconomic characteristics of the country can help in facilitating the adjustment avoiding an excessive increase in energy cost share.