Politická ekonomie 2025, 73(4):686-714 | DOI: 10.18267/j.polek.1460

Reimagining Recovery: Macroeconomic Power of Energy Efficiency in Crisis Times

Yugang He ORCID...
Yugang He, Sejong University, Department of Chinese Trade and Commerce, Seoul, Republic of Korea

This paper examines the profound effects of the COVID-19 pandemic on South Korean society, particularly focusing on the economic repercussions of a shock in energy use efficiency from Q1 2020 to Q3 2023. Employing advanced Bayesian estimation and impulse response function methods, the study reveals that enhanced energy use efficiency significantly boosts key economic metrics, including output, consumption, employment, energy use, real wages and investment. Additionally, an increase in real money holdings and a decrease in both deposit and loan interest rates are observed. The analysis further explores the impact of monetary policy adjustments made by South Korea to mitigate the economic challenges posed by the pandemic. Our results indicate that these policy shifts temporarily elevate the aforementioned economic variables and raise deposit and loan interest rates, despite a concurrent reduction in real wages. The findings provide critical insights for policy formulation and economic recovery strategies in the context of global health crises.

Keywords: COVID-19 pandemic, energy use efficiency, Bayesian estimation, monetary policy, economic recovery
JEL classification: E12, F62, Z18

Vloženo: 18. květen 2024; Revidováno: 23. červenec 2024; Přijato: 26. srpen 2024; Zveřejněno online: 7. srpen 2025; Zveřejněno: 27. srpen 2025  Zobrazit citaci

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
He, Y. (2025). Reimagining Recovery: Macroeconomic Power of Energy Efficiency in Crisis Times. Politická ekonomie, 73(4), 686-714. doi: 10.18267/j.polek.1460
Stáhnout citaci
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Zobrazit celý článek

    Reference

    1. Adisorn, T., Tholen, L., Thema, J., et al. (2020). Towards a more realistic cost-benefit analysis - Attempting to integrate transaction costs and energy efficiency services. Energies, 14(1), 152. https://doi.org/10.3390/en14010152 Přejít k původnímu zdroji...
    2. Angeloni, I., Faia, E., Duca, M. L. (2015). Monetary policy and risk taking. Journal of Economic Dynamics and Control, 52, 285-307. https://doi.org/10.1016/j.jedc.2014.12.001 Přejít k původnímu zdroji...
    3. Apergis, N., Lau, C. K., Xu, B. (2023). The impact of COVID-19 on stock market liquidity: Fresh evidence on listed Chinese firms. International Review of Financial Analysis, 90, 102847. https://doi.org/10.1016/j.irfa.2023.102847 Přejít k původnímu zdroji...
    4. Arsad, S. R., Hadi, M. H. H., Afandi, N. A. M., et al. (2023). The Impact of COVID-19 on the Energy Sector and the Role of AI: An Analytical Review on Pre-to Post-Pandemic Perspectives. Energies, 16(18), 6510. https://doi.org/10.3390/en16186510 Přejít k původnímu zdroji...
    5. Axon, S., Lent, T., Njoku, A. (2023). Shifting sustainable lifestyle practices and behaviour during times of pandemic disruptive change: Implications for on-going socio-technical transitions. Energy Research & Social Science, 102, 103188. https://doi.org/10.1016/j.erss.2023.103188 Přejít k původnímu zdroji...
    6. Baas, T., Belke, A. (2023). Oil Price Shocks and Current Account Imbalances within a Currency Union. The Energy Journal, 44(4), 223-240. https://doi.org/10.5547/01956574.44.4.tbaa Přejít k původnímu zdroji...
    7. Babecký, J., Franta, M., Ryšánek, J. (2018). Fiscal policy within the DSGE-VAR framework. Economic Modelling, 75, 23-37. https://doi.org/10.1016/j.econmod.2018.06.005 Přejít k původnímu zdroji...
    8. Bang, Y. R., Park, S.-C., Jang, O.-J., et al. (2021). Lifestyle changes that impact personal quality of life in the COVID-19 pandemic in South Korea. Psychiatry Investigation, 18(7), 701-707. https://doi.org/10.30773/pi.2021.0043 Přejít k původnímu zdroji...
    9. Bayer, C., Luetticke, R., Pham-Dao, L., et al. (2019). Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk. Econometrica, 87(1), 255-290. https://doi.org/10.3982/ECTA13601 Přejít k původnímu zdroji...
    10. Belongia, M. T., Ireland, P. N. (2015). Interest Rates and Money in the Measurement of Monetary Policy. Journal of Business & Economic Statistics, 33(2), 255-269. https://doi.org/10.1080/07350015.2014.946132 Přejít k původnímu zdroji...
    11. Benati, L. (2023). A New Approach to Estimating the Natural Rate of Interest. Journal of Money, Credit and Banking, 13013. https://doi.org/10.1111/jmcb.13013 Přejít k původnímu zdroji...
    12. Binder, C. C., Sekkel, R. (2023). Central bank forecasting: A survey. Journal of Economic Surveys, 38(2), 342-364. https://doi.org/10.1111/joes.12554 Přejít k původnímu zdroji...
    13. Born, B., Pfeifer, J. (2020). The new Keynesian wage Phillips curve: Calvo vs. Rotemberg. Macroeconomic Dynamics, 24(5), 1017-1041. https://doi.org/10.1017/S1365100518000615 Přejít k původnímu zdroji...
    14. Bottero, M., Minoiu, C., Peydró, J.-L., et al. (2022). Expansionary yet different: credit supply and real effects of negative interest rate policy. Journal of Financial Economics, 146(2), 754-778. https://doi.org/10.1016/j.jfineco.2021.11.004 Přejít k původnímu zdroji...
    15. Bravo-Biosca, A., Criscuolo, C., Menon, C. (2016). What drives the dynamics of business growth? Economic Policy, 31(88), 703-742. https://doi.org/10.1093/epolic/eiw013 Přejít k původnímu zdroji...
    16. Brockway, P. E., Sorrell, S., Semieniuk, G., et al. (2021). Energy efficiency and economy-wide rebound effects: A review of the evidence and its implications. Renewable and Sustainable Energy Reviews, 141, 110781. https://doi.org/10.1016/j.rser.2021.110781 Přejít k původnímu zdroji...
    17. Brown, A., Hampton, H., Foley, A., et al. (2023). Understanding domestic consumer attitude and behaviour towards energy: A study on the Island of Ireland. Energy Policy, 181, 113693. https://doi.org/10.1016/j.enpol.2023.113693 Přejít k původnímu zdroji...
    18. Cacciatore, M., Fiori, G. (2016). The macroeconomic effects of goods and labor markets deregulation. Review of Economic Dynamics, 20, 1-24. https://doi.org/10.1016/j.red.2015.10.002 Přejít k původnímu zdroji...
    19. Čapek, J., Crespo Cuaresma, J., Hauzenberger, N., et al. (2023). Macroeconomic forecasting in the euro area using predictive combinations of DSGE models. International Journal of Forecasting, 39(4), 1820-1838. https://doi.org/10.1016/j.ijforecast.2022.09.002 Přejít k původnímu zdroji...
    20. Carrasco-Gallego, J. A. (2020). Real estate, economic stability and the new macro-financial policies. Sustainability, 13(1), 236. https://doi.org/10.3390/su13010236 Přejít k původnímu zdroji...
    21. Chan, Y. T. (2020). On the impacts of anticipated carbon policies: A dynamic stochastic general equilibrium model approach. Journal of Cleaner Production, 256(4), 120342. https://doi.org/10.1016/j.jclepro.2020.120342 Přejít k původnímu zdroji...
    22. Chang, Y., Maih, J., Tan, F. (2021). Origins of monetary policy shifts: a new approach to regime switching in DSGE models. Journal of Economic Dynamics and Control, 133, 104235. https://doi.org/10.1016/j.jedc.2021.104235 Přejít k původnímu zdroji...
    23. Chen, M., Sinha, A., Hu, K., et al. (2021). Impact of technological innovation on energy efficiency in industry 4.0 era: Moderation of shadow economy in sustainable development. Technological Forecasting and Social Change, 164, 120521. https://doi.org/10.1016/j.techfore.2020.120521 Přejít k původnímu zdroji...
    24. Chen, Y., Cheng, L., Lee, C.-C., et al. (2021). The impact of regional banks on environmental pollution: Evidence from China's City commercial banks. Energy Economics, 102, 105492. https://doi.org/10.1016/j.eneco.2021.105492 Přejít k původnímu zdroji...
    25. Cho, D., Han, Y., Oh, J., et al. (2021). Uncertainty shocks, precautionary pricing, and optimal monetary policy. Journal of Macroeconomics, 69, 103343. https://doi.org/10.1016/j.jmacro.2021.103343 Přejít k původnímu zdroji...
    26. Choi, H., Koo, Y. (2023). New technology product introduction strategy with considerations for consumer-targeted policy intervention and new market entrant. Technological Forecasting and Social Change, 186(A), 122126. https://doi.org/10.1016/j.techfore.2022.122126 Přejít k původnímu zdroji...
    27. Choi, J., Kee, D., Lee, J., et al. (2023). Understanding heterogeneous consumer preferences for residential zero-energy buildings (ZEBs) in South Korea: A latent class approach. Sustainable Cities and Society, 104747. https://doi.org/10.1016/j.scs.2023.104747 Přejít k původnímu zdroji...
    28. Choi, J., Hur, J. (2015). An examination of macroeconomic fluctuations in Korea exploiting a Markov-switching DSGE approach. Economic Modelling, 51, 183-199. https://doi.org/10.1016/j.econmod.2015.07.020 Přejít k původnímu zdroji...
    29. Choi, W. G., Kang, T., Kim, G.-Y., et al. (2017). Global liquidity transmission to emerging market economies, and their policy responses. Journal of International Economics, 109(C), 153-166. https://doi.org/10.1016/j.jinteco.2017.08.001 Přejít k původnímu zdroji...
    30. Costa, C. J. (2019). Preferred habitat and the term structure of interest rates in DSGE models. Journal of Applied Economics, 22(1), 581-601. https://doi.org/10.1080/15140326.2019.1680124 Přejít k původnímu zdroji...
    31. Cronert, A. (2019). Unemployment reduction or labor force expansion? How partisanship matters for the design of active labor market policy in Europe. Socio-Economic Review, 17(4), 921-946. https://doi.org/10.1093/ser/mwx014 Přejít k původnímu zdroji...
    32. Dabbous, A., Tarhini, A. (2021). Does sharing economy promote sustainable economic development and energy efficiency? Evidence from OECD countries. Journal of Innovation & Knowledge, 6(1), 58-68. https://doi.org/10.1016/j.jik.2020.11.001 Přejít k původnímu zdroji...
    33. Dabija, D.-C., Csorba, L. M., Isac, F.-L., et al. (2022). Building trust toward sharing economy platforms beyond the COVID-19 pandemic. Electronics, 11(18), 2916. https://doi.org/10.3390/electronics11182916 Přejít k původnímu zdroji...
    34. Dafermos, Y., Nikolaidi, M., Galanis, G. (2018). Climate change, financial stability and monetary policy. Ecological Economics, 152, 219-234. https://doi.org/10.1016/j.ecolecon.2018.05.011 Přejít k původnímu zdroji...
    35. Dell'Anna, F. (2021). Green jobs and energy efficiency as strategies for economic growth and the reduction of environ mental impacts. Energy Policy, 149, 112031. https://doi.org/10.1016/j.enpol.2020.112031 Přejít k původnímu zdroji...
    36. Delpachitra, S., Hou, K., Cottrell, S. (2020). The impact of oil price shocks in the Canadian economy: A structural investigation on an oil-exporting economy. Energy Economics, 91, 104846. https://doi.org/10.1016/j.eneco.2020.104846 Přejít k původnímu zdroji...
    37. Demiralp, S., Eisenschmidt, J., Vlassopoulos, T. (2021). Negative interest rates, excess liquidity and retail deposits: Banks' reaction to unconventional monetary policy in the euro area. European Economic Review, 136, 103745. https://doi.org/10.1016/j.euroecorev.2021.103745 Přejít k původnímu zdroji...
    38. Demirok, M., Hasancebi, S., Ulusoy, V. (2023). Dynamics of optimum monetary policy in a small open-economy: a new-Keynesian DSGE model for Turkish economy. The Singapore Economic Review, 1-22. https://doi.org/10.1142/S021759082350008X Přejít k původnímu zdroji...
    39. Dunz, N., Naqvi, A., Monasterolo, I. (2021). Climate sentiments, transition risk, and financial stability in a stock-flow consistent model. Journal of Financial Stability, 54, 100872. https://doi.org/10.1016/j.jfs.2021.100872 Přejít k původnímu zdroji...
    40. Ekinci, E., Mangla, S. K., Kazancoglu, Y., et al. (2022). Resilience and complexity measurement for energy efficient global supply chains in disruptive events. Technological Forecasting and Social Change, 179, 121634. https://doi.org/10.1016/j.techfore.2022.121634 Přejít k původnímu zdroji...
    41. Fan, W., Anser, M. K., Nasir, M. H., et al. (2023). Uncertainty in firm innovation scheme and impact of green fiscal policy; Economic recovery of Chinese firms in the post-Covid-19 era. Economic Analysis and Policy, 78, 1424-1439. https://doi.org/10.1016/j.eap.2023.04.002 Přejít k původnímu zdroji...
    42. Fasani, S., Mumtaz, H., Rossi, L. (2023). Monetary policy uncertainty and firm dynamics. Review of Economic Dynamics, 47, 278-296. https://doi.org/10.1016/j.red.2022.02.002 Přejít k původnímu zdroji...
    43. Fernández-Villaverde, J., Guerrón-Quintana, P. A. (2021). Estimating DSGE Models: Recent Advances and Future Challenges. Annual Review of Economics, 13(1), 229-252. https://doi.org/10.1146/annurev-economics-081020-044812 Přejít k původnímu zdroji...
    44. Fowlie, M., Meeks, R. (2021). The Economics of Energy Efficiency in Developing Countries. Review of Environmental Economics and Policy, 15(2), 238-260. https://doi.org/10.1086/715606 Přejít k původnímu zdroji...
    45. Fry, M. J. (2019). Financial structure, monetary policy, and economic growth in Hong Kong, Singapore, Taiwan, and South Korea, 1960-1983. In: Corbo, V. Export-Oriented Development Strategies. New York: Routledge, 275-324. ISBN 978-0429038013.
    46. Gan, V. J. L., Lo, I. M. C., Ma, J., et al. (2020). Simulation optimisation towards energy efficient green buildings: Current status and future trends. Journal of Cleaner Production, 254, 120012. https://doi.org/10.1016/j.jclepro.2020.120012 Přejít k původnímu zdroji...
    47. García-Quevedo, J., Jové-Llopis, E. (2021). Environmental policies and energy efficiency investments. An industry-level analysis. Energy Policy, 156, 112461. https://doi.org/10.1016/j.enpol.2021.112461 Přejít k původnímu zdroji...
    48. Ghannouchi, I. (2023). Examining the dynamic nexus between industry 4.0 technologies and sustainable economy: New insights from empirical evidence using GMM estimator across 20 OECD nations. Technology in Society, 75, 102408. https://doi.org/10.1016/j.techsoc.2023.102408 Přejít k původnímu zdroji...
    49. Górajski, M., Kuchta, Z. (2023). Are two financial frictions necessary to match US business and financial cycles? Finance Research Letters, 59(C), 104755. https://doi.org/10.1016/j.frl.2023.104755 Přejít k původnímu zdroji...
    50. Gribkova, D., Milshina, Y. (2022). Energy transition as a response to energy challenges in post-pandemic reality. Energies, 15(3), 812. https://doi.org/10.3390/en15030812 Přejít k původnímu zdroji...
    51. Han, J.-S., Hur, J. (2020). Macroeconomic effects of monetary policy in Korea: a time-varying coefficient VAR approach. Economic Modelling, 89, 142-152. https://doi.org/10.1016/j.econmod.2019.10.002 Přejít k původnímu zdroji...
    52. He, Y. (2022). Home Production: Does It Matter for the Korean Macroeconomy during the COVID-19 Pandemic? Mathematics, 10(12), 2029. https://doi.org/10.3390/math10122029 Přejít k původnímu zdroji...
    53. He, Y. (2023). Unraveling the COVID-19 Pandemic's Impact on South Korea's Macroeconomy: Unearthing Novel Transmission Channels within the Energy Sector and Production Technologies. Energies, 16(9), 3691. https://doi.org/10.3390/en16093691 Přejít k původnímu zdroji...
    54. He, Y., Lee, M. (2022). Macroeconomic Effects of Energy Price: New Insight from Korea? Mathematics, 10(15), 2653. https://doi.org/10.3390/math10152653 Přejít k původnímu zdroji...
    55. He, Y., Wang, Y. (2022). Macroeconomic effects of COVID-19 pandemic: Fresh evidence from Korea. Sustainability, 14(9), 5100. https://doi.org/10.3390/su14095100 Přejít k původnímu zdroji...
    56. Henriques, J., Catarino, J. (2016). Motivating towards energy efficiency in small and medium enterprises. Journal of Cleaner Production, 139, 42-50. https://doi.org/10.1016/j.jclepro.2016.08.026 Přejít k původnímu zdroji...
    57. Hepburn, C., O'Callaghan, Stern, N., et al. (2020). Will COVID-19 fiscal recovery packages accelerate or retard progress on climate change? Oxford Review of Economic Policy, 36(Supplement_1), S359-S381. https://doi.org/10.1093/oxrep/graa015 Přejít k původnímu zdroji...
    58. Hermundsdottir, F., Haneberg, D. H., Aspelund, A. (2022). Analyzing the impact of COVID-19 on environmental innovations in manufacturing firms. Technology in Society, 68, 101918. https://doi.org/10.1016/j.techsoc.2022.101918 Přejít k původnímu zdroji...
    59. Hille, E., Lambernd, B. (2020). The role of innovation in reducing South Korea's energy intensity: Regional-data evidence on various energy carriers. Journal of Environmental Management, 262, 110293. https://doi.org/10.1016/j.jenvman.2020.110293 Přejít k původnímu zdroji...
    60. Hirose, Y. (2020). An estimated DSGE model with a deflation steady state. Macroeconomic Dynamics, 24(5), 1151-1185. https://doi.org/10.1017/S1365100518000743 Přejít k původnímu zdroji...
    61. Hohberger, S., Priftis, R., Vogel, L. (2019). The macroeconomic effects of quantitative easing in the euro area: Evidence from an estimated DSGE model. Journal of Economic Dynamics and Control, 108, 103756. https://doi.org/10.1016/j.jedc.2019.103756 Přejít k původnímu zdroji...
    62. Hsiao, C. Y.-L., Jin, T., Kwok, S., et al. (2023). Entrepreneurial risk shocks and financial acceleration asymmetry in a two-country DSGE model. China Economic Review, 102006. https://doi.org/10.1016/j.chieco.2023.102006 Přejít k původnímu zdroji...
    63. Hur, J., Lee, K. K. (2017). Fiscal financing and the efficacy of fiscal policy in Korea: An empirical assessment with comparison to the US evidence. Economic Modelling, 64(C), 473-486. https://doi.org/10.1016/j.econmod.2017.03.001 Přejít k původnímu zdroji...
    64. Hur, J., Rhee, W. (2020). Multipliers of expected vs. unexpected fiscal shocks: The case of Korea. Economic Modelling, 85, 244-254. https://doi.org/10.1016/j.econmod.2019.05.021 Přejít k původnímu zdroji...
    65. Huynh, B. T. (2016). Macroeconomic effects of energy price shocks on the business cycle. Macroeconomic Dynamics, 20(3), 623-642. Přejít k původnímu zdroji...
    66. Hwang, Y. (2009). Estimation the Natural Output Korea: A Bayesian DSGE Approach. KDI Journal of Economic Policy, 31(1), 1-25. https://doi.org/10.23895/kdijep.2009.31.1.1 Přejít k původnímu zdroji...
    67. Iania, L., Tretiakov, P., Wouters, R. (2023). The risk premium in New Keynesian DSGE models: The cost of inflation channel. Journal of Economic Dynamics and Control, 155(C), 104732. https://doi.org/10.1016/j.jedc.2023.104732 Přejít k původnímu zdroji...
    68. Iiboshi, H., Shintani, M., Ueda, K. (2022). Estimating a Nonlinear New Keynesian Model with the Zero Lower Bound for Japan. Journal of Money, Credit and Banking, 54(6), 1637-1671. https://doi.org/10.1111/jmcb.12908 Přejít k původnímu zdroji...
    69. Iwasaki, Y., Muto, I., Shintani, M. (2021). Missing wage inflation? Estimating the natural rate of unemployment in a nonlinear DSGE model. European Economic Review, 132, 103626. https://doi.org/10.1016/j.euroecorev.2020.103626 Přejít k původnímu zdroji...
    70. Jeong, B. G., Kim, S.-J. (2021). The Government and Civil Society Collaboration against COVID-19 in South Korea: A Single or Multiple Actor Play? Nonprofit Policy Forum, 12(1), 165-187. https://doi.org/10.1515/npf-2020-0051 Přejít k původnímu zdroji...
    71. de Jesus, D. P., Nóbrega, Besarria, C., Maia, S. F. (2020). The macroeconomic effects of monetary policy shocks under fiscal constrained: An analysis using a DSGE model. Journal of Economic Studies, 47(4), 805-825. https://doi.org/10.1108/JES-01-2019-0011 Přejít k původnímu zdroji...
    72. Jiang, P., Van Fan, Y., Klemeš, J. J. (2021). Impacts of COVID-19 on energy demand and consumption: Challenges, lessons and emerging opportunities. Applied Energy, 285, 116441. https://doi.org/10.1016/j.apenergy.2021.116441 Přejít k původnímu zdroji...
    73. Joo, H., Park, S., So, I. (2024). Heterogeneous regional effects of monetary policy: Evidence from Korea. Journal of Asian Economics, 94(C), 101779. https://doi.org/10.1016/j.asieco.2024.101779 Přejít k původnímu zdroji...
    74. Joo, J., Paavola, J., Van Alstine, J. (2023). Contested net-zero target setting in a transitioning country: The case of South Korea. Futures, 147, 103114. https://doi.org/10.1016/j.futures.2023.103114 Přejít k původnímu zdroji...
    75. Kang, D., Lee, D. H. (2016). Energy and environment efficiency of industry and its productivity effect. Journal of Cleaner Production, 135, 184-193. https://doi.org/10.1016/j.jclepro.2016.06.042 Přejít k původnímu zdroji...
    76. Kang, H., Suh, H. (2017). Macroeconomic dynamics in Korea during and after the global financial crisis: a Bayesian DSGE approach. International Review of Economics & Finance, 49, 386-421. https://doi.org/10.1016/j.iref.2017.02.008 Přejít k původnímu zdroji...
    77. Karakosta, C., Mylona, Z., Karásek, J., et al. (2021). Tackling covid-19 crisis through energy efficiency investments: Decision support tools for economic recovery. Energy Strategy Reviews, 38, 100764. https://doi.org/10.1016/j.esr.2021.100764 Přejít k původnímu zdroji...
    78. Karda, S., Nagy-György, T., Boros, I. (2023). Evolution of the Payback Period for Energy-Efficient Residential Buildings in Romania in the Last Decade. Sustainability, 15(11), 8986. https://doi.org/10.3390/su15118986 Přejít k původnímu zdroji...
    79. Kazancoglu, Y., Lafci, C., Beberoglu, Y., et al. (2023). The analysis of critical success factors for successful kaizen implementation during the COVID-19 pandemic: a textile industry case study. The TQM Journal. https://doi.org/10.1108/TQM-08-2023-0254 Přejít k původnímu zdroji...
    80. Khan, M. A., Khan, Z., Saleem, S. F. (2023). Monetary policy effectiveness in Asian developing economies: the moderating role of financial sector development. Journal of Financial Economic Policy, 15(3), 226-247. https://doi.org/10.1108/JFEP-01-2023-0021 Přejít k původnímu zdroji...
    81. Kiarsi, M. (2023). Money demand by firms, labor market frictions, and optimal long-run inflation. Macroeconomic Dynamics, 28(1), 204-233. https://doi.org/10.1017/S1365100522000773 Přejít k původnímu zdroji...
    82. Kikstra, J. S., Vinca, A., Lovat, F., et al. (2021). Climate mitigation scenarios with persistent COVID-19-related energy demand changes. Nature Energy, 6(12), 1114-1123. https://doi.org/10.1038/s41560-021-00904-8 Přejít k původnímu zdroji...
    83. Kim, P., Bae, H. (2022). Do firms respond differently to the carbon pricing by industrial sector? How and why? A comparison between manufacturing and electricity generation sectors using firm-level panel data in Korea. Energy Policy, 162, 112773. https://doi.org/10.1016/j.enpol.2021.112773 Přejít k původnímu zdroji...
    84. Kim, T. B. (2022). An Estimated Labor and Financial Friction Model: Evidence from the Korean Economy. Journal of Economic Theory and Econometrics, 33(2), 1-74.
    85. Kim, Y. J., Brown, M. (2019). Impact of domestic energy-efficiency policies on foreign innovation: The case of lighting technologies. Energy Policy, 128, 539-552. https://doi.org/10.1016/j.enpol.2019.01.032 Přejít k původnímu zdroji...
    86. Kuzemko, C., Bradshaw, M., Bridge, G., et al. (2020). Covid-19 and the politics of sustainable energy transitions. Energy Research & Social Science, 68, 101685. https://doi.org/10.1016/j.erss.2020.101685 Přejít k původnímu zdroji...
    87. Lee, H., Lee, J.-S. (2023). Resetting the energy-transition paths amid the dual crises: the EU-South Korean responses to the war in Ukraine and US-China rivalry. Asia Europe Journal, 21(4), 607-623. https://doi.org/10.1007/s10308-023-00681-x Přejít k původnímu zdroji...
    88. Lee, J., Song, J. (2015). Housing and business cycles in Korea: A multi-sector Bayesian DSGE approach. Economic Modelling, 45(C), 99-108. https://doi.org/10.1016/j.econmod.2014.11.009 Přejít k původnímu zdroji...
    89. Lee, J.-H., Woo, J. (2020). Green New Deal policy of South Korea: Policy innovation for a sustainability transition. Sustainability, 12(23), 10191. https://doi.org/10.3390/su122310191 Přejít k původnímu zdroji...
    90. Leni Anguyo, F., Gupta, R., Kotzé, K. (2020). Monetary policy, financial frictions and structural changes in Uganda: a Markov-switching DSGE approach. Economic research-Ekonomska istraživanja, 33(1), 1538-1561. https://doi.org/10.1080/1331677X.2020.1757480 Přejít k původnímu zdroji...
    91. Li, Q. et al. (2022). Do climate technology, financialization, and sustainable finance impede environmental challenges? Evidence from G10 economies. Technological Forecasting and Social Change, 185, 122095. https://doi.org/10.1016/j.techfore.2022.122095 Přejít k původnímu zdroji...
    92. Li, W., Cao, N., Xiang, Z. (2023). Drivers of renewable energy transition: The role of ICT, human development, financialization, and R&D investment in China. Renewable Energy, 206, 441-450. https://doi.org/10.1016/j.renene.2023.02.027 Přejít k původnímu zdroji...
    93. Li, Z. (2022). Financial intermediary leverage and monetary policy transmission. European Economic Review, 144, 104080. https://doi.org/10.1016/j.euroecorev.2022.104080 Přejít k původnímu zdroji...
    94. Ling, F. Y. Y., Zhang, Z., Yew, A. Y. R. (2022). Impact of COVID-19 Pandemic on Demand, Output, and Outcomes of Construction Projects in Singapore. Journal of Management in Engineering, 38(2), 04021097. https://doi.org/10.1061/(ASCE)ME.1943-5479.0001020 Přejít k původnímu zdroji...
    95. Liu, H., Yao, P., Latif, S., et al. (2022). Impact of Green financing, FinTech, and financial inclusion on energy efficiency. Environmental Science and Pollution Research, 29(13), 18955-18966. https://doi.org/10.1007/s11356-021-16949-x Přejít k původnímu zdroji...
    96. Liu, J.-Y., Lin, S.-M., Xia, Y., et al. (2015). A financial CGE model analysis: Oil price shocks and monetary policy responses in China. Economic Modelling, 51(C), 534-543. https://doi.org/10.1016/j.econmod.2015.08.025 Přejít k původnímu zdroji...
    97. Liu, T.-Y., Lee, C.-C. (2022). Exchange rate fluctuations and interest rate policy. International Journal of Finance & Economics, 27(3), 3531-3549. https://doi.org/10.1002/ijfe.2336 Přejít k původnímu zdroji...
    98. Lozej, M., Onorante, L., Rannenberg, A. (2023). Countercyclical capital regulation in a small open economy DSGE model. Macroeconomic Dynamics, 27(5), 1230-1267. https://doi.org/10.1017/S1365100522000190 Přejít k původnímu zdroji...
    99. Marimuthu, R., Sankaranarayanan, B., Mithun Ali, S., et al. (2022). Green recovery strategies for the mining industry of India: lessons learned from the COVID-19 pandemic. Journal of Asia Business Studies, 16(3), 428-447. https://doi.org/10.1108/JABS-05-2021-0179 Přejít k původnímu zdroji...
    100. Matiiuk, Y., Liobikienė, G. (2023). How the Covid-19 pandemic contributed to changes in climate change and environmental concern, resource-saving and waste-sorting behaviour. Journal of Cleaner Production, 430, 139759. https://doi.org/10.1016/j.jclepro.2023.139759 Přejít k původnímu zdroji...
    101. Mišík, M., Nosko, A. (2023). Post-pandemic lessons for EU energy and climate policy after the Russian invasion of Ukraine: Introduction to a special issue on EU green recovery in the post-Covid-19 period. Energy Policy, 177(C), 113546. https://doi.org/10.1016/j.enpol.2023.113546 Přejít k původnímu zdroji...
    102. Moon, H., Min, D. (2020). A DEA approach for evaluating the relationship between energy efficiency and financial performance for energy-intensive firms in Korea. Journal of Cleaner Production, 255, 120283. https://doi.org/10.1016/j.jclepro.2020.120283 Přejít k původnímu zdroji...
    103. Park, J., Chung, E. (2021). Learning from past pandemic governance: Early response and Public-Private Partnerships in testing of COVID-19 in South Korea. World Development, 137, 105198. https://doi.org/10.1016/j.worlddev.2020.105198 Přejít k původnímu zdroji...
    104. Petrosky-Nadeau, N., Wasmer, E. (2015). Macroeconomic dynamics in a model of goods, labor, and credit market frictions. Journal of Monetary Economics, 72(C), 97-113. https://doi.org/10.1016/j.jmoneco.2015.01.006 Přejít k původnímu zdroji...
    105. Polzin, F., Sanders, M., Täube, F. (2017). A diverse and resilient financial system for investments in the energy transition. Current Opinion in Environmental Sustainability, 28, 24-32. https://doi.org/10.1016/j.cosust.2017.07.004 Přejít k původnímu zdroji...
    106. Pontines, V. (2021). The real effects of loan-to-value limits: empirical evidence from Korea. Empirical Economics, 61(3), 1311-1350. https://doi.org/10.1007/s00181-020-01908-1 Přejít k původnímu zdroji...
    107. Punzi, M. T. (2019). The impact of energy price uncertainty on macroeconomic variables. Energy Policy, 129(C), 1306-1319. https://doi.org/10.1016/j.enpol.2019.03.015 Přejít k původnímu zdroji...
    108. Pyun, J. H., Rhee, D. (2015). Fiscal multipliers during the global financial crisis: Fiscal and monetary interaction matters. Contemporary Economic Policy, 33(1), 207-220. Přejít k původnímu zdroji...
    109. Razzaq, A., Sharif, A., Ozturk, I., et al. (2023). Dynamic and threshold effects of energy transition and environmental governance on green growth in COP26 framework. Renewable and Sustainable Energy Reviews, 179, 113296. https://doi.org/10.1016/j.rser.2023.113296 Přejít k původnímu zdroji...
    110. Rokicki, T., Jadczak, R., Kucharski, A., et al. (2022). Changes in Energy Consumption and Energy Intensity in EU Countries as a Result of the COVID-19 Pandemic by Sector and Area Economy. Energies, 15(17), 6243. https://doi.org/10.3390/en15176243 Přejít k původnímu zdroji...
    111. Rostamkalaei, A., Freel, M. (2016). The cost of growth: small firms and the pricing of bank loans. Small Business Economics, 46(2), 255-272. https://doi.org/10.1007/s11187-015-9681-x Přejít k původnímu zdroji...
    112. Rozhkov, A., Movahedi, A., Derrible, S. (2023). A machine learning framework to assess the impact of the COVID-19 pandemic on electricity consumption patterns. Cities, 143, 104639. https://doi.org/10.1016/j.cities.2023.104639 Přejít k původnímu zdroji...
    113. Rudebusch, G. D., Williams, J. C. (2016). A wedge in the dual mandate: Monetary policy and long-term unemployment. Journal of Macroeconomics, 47(A), 5-18. https://doi.org/10.1016/j.jmacro.2015.05.001 Přejít k původnímu zdroji...
    114. Sadeghi, A., Marzban, H., Samadi, A. H., et al. (2022). Financial intermediaries and speculation in the foreign exchange market: the role of monetary policy in Iran's economy. Journal of Economic Structures, 11(1), 13. https://doi.org/10.1186/s40008-022-00271-x Přejít k původnímu zdroji...
    115. Saqib, N., Dincă, G. (2023). Exploring the asymmetric impact of economic complexity, FDI, and green technology on carbon emissions: Policy stringency for clean-energy investing countries. Geoscience Frontiers, 15(4), 101671. https://doi.org/10.1016/j.gsf.2023.101671 Přejít k původnímu zdroji...
    116. Sassi, F., Frassineti, F. (2021). Chaos at the Gates: The impacts of the COVID-19 pandemic and energy price shocks on South Korea's gas industry amid energy transition. The Journal of World Energy Law & Business, 14(3), 190-204. https://doi.org/10.1093/jwelb/jwab018 Přejít k původnímu zdroji...
    117. Sergi, F. (2020). The Standard Narrative about DSGE Models in Central Banks' Technical Reports. The European Journal of the History of Economic Thought, 27(2), 163-193. https://doi.org/10.1080/09672567.2019.1651365 Přejít k původnímu zdroji...
    118. Shehabi, M. (2022). Modeling long-term impacts of the COVID-19 pandemic and oil price declines on Gulf oil economies. Economic Modelling, 112, 105849. https://doi.org/10.1016/j.econmod.2022.105849 Přejít k původnímu zdroji...
    119. Smol, M. (2022). Is the green deal a global strategy? Revision of the green deal definitions, strategies and importance in post-COVID recovery plans in various regions of the world. Energy Policy, 169, 113152. https://doi.org/10.1016/j.enpol.2022.113152 Přejít k původnímu zdroji...
    120. Spangenberg, J. H., Kurz, R. (2023). Epochal turns: Uncomfortable insights, uncertain outlooks. Sustainable Development, 31(4), 2347-2362. https://doi.org/10.1002/sd.2512 Přejít k původnímu zdroji...
    121. Steffen, B. (2020). Estimating the cost of capital for renewable energy projects. Energy Economics, 88, 104783. https://doi.org/10.1016/j.eneco.2020.104783 Přejít k původnímu zdroji...
    122. Storm, S. (2021). Cordon of Conformity: Why DSGE Models Are Not the Future of Macroeconomics. International Journal of Political Economy, 50(2), 77-98. https://doi.org/10.1080/08911916.2021.1929582 Přejít k původnímu zdroji...
    123. Strielkowski, W., Firsova, I., Lukashenko, I., et al. (2021). Effective management of energy consumption during the COVID-19 pandemic: The role of ICT solutions. Energies, 14(4), 893. https://doi.org/10.3390/en14040893 Přejít k původnímu zdroji...
    124. Syarifuddin, F., Bakhtiar, T. (2022). The macroeconomic effects of an interest-bearing CBDC: A DSGE model. Mathematics, 10(10), 1671. https://doi.org/10.3390/math10101671 Přejít k původnímu zdroji...
    125. Tang, L., Jefferson, G. (2024). A DSGE model of energy efficiency with vintage capital in Chinese industry. Economic Modelling, 132(C), 106664. https://doi.org/10.1016/j.econmod.2024.106664 Přejít k původnímu zdroji...
    126. Taylor, A., Lee, J. (2014). The Propagation of the US Financial Crisis to a Small Open Economy: Evidence from Korea. Korea and the World Economy, 15(1), 87-96.
    127. Tian, J., Yu, L., Xue, R., et al. (2022). Global low-carbon energy transition in the post-COVID-19 era. Applied Energy, 307, 118205. https://doi.org/10.1016/j.apenergy.2021.118205 Přejít k původnímu zdroji...
    128. Verhoef, P. C., Noordhoff, C. S., Sloot, L. (2023). Reflections and predictions on effects of COVID-19 pandemic on retailing. Journal of Service Management, 34(2), 274-293. https://doi.org/10.1108/JOSM-09-2021-0343 Přejít k původnímu zdroji...
    129. Vîrjan, D., Manole, A. M., Stanef-Puică, M. R., et al. (2023). Competitiveness - the engine that boosts economic growth and revives the economy. Frontiers in Environmental Science, 11, 561. https://doi.org/10.3389/fenvs.2023.1130173 Přejít k původnímu zdroji...
    130. Wan, Q., Miao, X., Afshan, S. (2022). Dynamic effects of natural resource abundance, green financing, and government environmental concerns toward the sustainable environment in China. Resources Policy, 79, 102954. https://doi.org/10.1016/j.resourpol.2022.102954 Přejít k původnímu zdroji...
    131. Wang, E.-Z., Lee, C.-C. (2023). The impact of commercial bank branch expansion on energy efficiency: Micro evidence from China. China Economic Review, 80, 102019. https://doi.org/10.1016/j.chieco.2023.102019 Přejít k původnímu zdroji...
    132. Wang, J., He, Y. (2023). Assessing the Macroeconomic Consequences of External Financial Upheavals on China: A Caution of a Silicon Valley Bank's Collapse. Axioms, 12(8), 755. https://doi.org/10.3390/axioms12080755 Přejít k původnímu zdroji...
    133. Wang, Q., Yang, X., Li, R. (2022). The impact of the COVID-19 pandemic on the energy market - A comparative relationship between oil and coal. Energy Strategy Reviews, 39, 100761. https://doi.org/10.1016/j.esr.2021.100761 Přejít k původnímu zdroji...
    134. Wenlong, Z., Tien, N. H., Sibghatullah, A., et al. (2022). Impact of energy efficiency, technology innovation, institutional quality, and trade openness on greenhouse gas emissions in ten Asian economies. Environmental Science and Pollution Research, 30(15), 43024-43039. https://doi.org/10.1007/s11356-022-20079-3 Přejít k původnímu zdroji...
    135. Wu, H., Feng, Z., Sun, T., et al. (2024). Efficiency, sustainability, and resilience a trifecta for a green economic recovery through natural resource markets. Resources Policy, 88, 104435. https://doi.org/10.1016/j.resourpol.2023.104435 Přejít k původnímu zdroji...
    136. Xiao, B., Guo, X., Xu, F. (2023). Evaluation and comparison of energy tax, resource tax and air pollution tax: an environmental-DSGE model. Journal of Environmental Planning and Management, 67(12), 3051-3074. https://doi.org/10.1080/09640568.2023.2244670 Přejít k původnímu zdroji...
    137. Xie, Y. (2021). Interactive effects between monetary policy and fiscal policy based on dynamic stochastic general equilibrium model. Journal of Intelligent & Fuzzy Systems, 40(4), 6397-6408. https://doi.org/10.3233/JIFS-189480 Přejít k původnímu zdroji...
    138. Xin, B., Jiang, K. (2023). Economic uncertainty, central bank digital currency, and negative interest rate policy. Journal of Management Science and Engineering, 8(4), 430-452. https://doi.org/10.1016/j.jmse.2023.04.001 Přejít k původnímu zdroji...
    139. Xu, Z. (2020). Economic policy uncertainty, cost of capital, and corporate innovation. Journal of Banking & Finance, 111, 105698. https://doi.org/10.1016/j.jbankfin.2019.105698 Přejít k původnímu zdroji...
    140. Yang, W., Yu, J., Li, K. (2023). Financial resource allocation, technological progress and high-quality economic development. Frontiers of Economics in China, 18(4), 504-530.
    141. Zakeri, B., Paulavets, K., Barreto-Gomez, et al. (2022). Pandemic, war, and global energy transitions. Energies, 15(17), 6114. https://doi.org/10.3390/en15176114 Přejít k původnímu zdroji...
    142. Zarei, S., Marzban, H., Samadi, A. H., et al. (2019). News shocks modeling on monetary policies using dynamic stochastic general equilibrium (DSGE) model: Case analysis. International Journal of Intelligent Unmanned Systems, 7(4), 209-230. https://doi.org/10.1108/IJIUS-04-2019-0025 Přejít k původnímu zdroji...
    143. Zhang, L., Saydaliev, H. B., Ma, X. (2022). Does green finance investment and technological innovation improve renewable energy efficiency and sustainable development goals. Renewable Energy, 193(C), 991-1000. https://doi.org/10.1016/j.renene.2022.04.161 Přejít k původnímu zdroji...
    144. Zhang, Q., Hu, Y., Jiao, J., et al. (2023a). Is refined oil price regulation a "shock absorber" for crude oil price shocks? Energy Policy, 173, 113369. https://doi.org/10.1016/j.enpol.2022.113369 Přejít k původnímu zdroji...
    145. Zhang, S., Anser, M. K., Peng, M. Y.-P., et al. (2023). Visualizing the sustainable development goals and natural resource utilization for green economic recovery after COVID-19 pandemic. Resources Policy, 80, 103182. https://doi.org/10.1016/j.resourpol.2022.103182 Přejít k původnímu zdroji...
    146. Zhang, Z., Sami, F., Ullah, I., et al. (2023b). Analyzing the green marketing approaches and their impact on consumer behavior toward the environment in China: a logistic regression approach. Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 26(11), 29453-29474. https://doi.org/10.1007/s10668-023-03985-5 Přejít k původnímu zdroji...
    147. Zhao, L., Chau, K. Y., Tran, T. K., et al. (2022c). Enhancing green economic recovery through green bonds financing and energy efficiency investments. Economic Analysis and Policy, 76, 488-501. https://doi.org/10.1016/j.eap.2022.08.019 Přejít k původnímu zdroji...

    Tento článek je publikován v režimu tzv. otevřeného přístupu k vědeckým informacím (Open Access), který je distribuován pod licencí Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), která umožňuje nekomerční distribuci, reprodukci a změny, pokud je původní dílo řádně ocitováno. Není povolena distribuce, reprodukce nebo změna, která není v souladu s podmínkami této licence.


    Zpět na obsah