本文以實質景氣循環模型為架構, 探討加入耐久財的能源價格補貼效果。模型中總和消費包含非耐久財、耐久財和能源。其中, 耐久財與能源呈現互補的關係。將耐久財加入模型會減弱能源價格衝擊對經濟體的影響, 於模型調校中, 有耐久財與沒有耐久財的結果差異不大。在補貼方面, 對不同單位進行能源價格補貼會得到不同的效果。相較於補貼家計單位, 補貼廠商能改善能源價格衝擊對總產出的影響。從福利分析的觀點出發, 同時補貼家計單位與廠商能稍微改善家計單位效用的預期值。

This thesis analyzes the effect of energy subsidy policy in a RBC model that considers durable goods. The consumption aggregator integrates nondurable goods, durable goods and energy in a way that the last two ingredients are complements. The incorporation of durable goods into the model mitigates the negative impact from energy price shocks. The calibration results indicate that impacts are similar for models with and without durable goods. On the other hand, subsidizing firms would result in smaller impact on output while subsidizing households would enlarge
it. The welfare analysis implies that subsidizing both firms and households would slightly improve the expected utility of households

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