Analysis Of Macroeconomic Impact Of Emission Reduction Policies From The Perspective Of Sectoral Heterogeneity

Since the reform and opening up,China has grown from a poor and backward state to the second largest economy in the world after the United States with an average annual economic growth rate of nearly 10%.People’s lives have undergone earth-shaking changes.In such a short period of time,China can complete the "struggle" of Western countries for hundreds of years on the premise of adhering to the path of peaceful development,which can be called a miracle in human history.However,there are still many problems in China’s development.For example,China’s rapid economic growth has also brought about development problems such as high emissions,high energy consumption and environmental pollution.Therefore,China is actively promoting the achievement of dual carbon targets and promoting China’s economic green.sustainable development.The implementation of emission reduction policies is one of the key measures to overcome the current development dilemma and promote the green development of China’s economy.Based on previous analysis methods,this paper considers three key elements on the basis of the real business cycle model(RBC): firm heterogeneity,price stickiness and imperfect competition,constructs a New Keynesian model(NK),and studies emission reduction policies Effects on heterogeneous firm operating activities and other macroeconomic variables.The specific ideas are as follows:introduce environmental quality into the utility function of the household sector to analyze the economic behavior of households;divide the business sector into final product manufacturers and intermediate product manufacturers,and final product manufacturers use intermediate products for production and are in a complete state.In a competitive environment,intermediate product manufacturers are in a monopolistic competition environment,and product prices are sticky;based on the heterogeneity of manufacturers,intermediate product manufacturers are divided into low-emission environmental protection enterprises and high-emission traditional enterprises;government departments are mainly responsible for Formulate emission reduction policies,including imposing carbon taxes,limiting total emissions,and stipulating emission intensity.On the basis of solving the model,analyze the impact of emission reduction policies,technological progress and other shocks on various macroeconomic variables,and put forward corresponding policy suggestions on this basis.The research conclusions of this paper are as follows:(1)technological shock is the most important factor for macroeconomic fluctuations,and the improvement of total factor productivity has a greater role in promoting total output,so economic development needs to focus on technological progress;(2)The implementation of the emission reduction policy will promote the scale expansion of low-carbon environmental protection enterprises and the exit of polluting enterprises from the market,and realize the green transformation of the industry;(3)intensive emission reduction has the least impact on the macro economy.If the government wants to achieve a smooth transition without violent fluctuations in the economy,intensive emission reduction is the best choice.The innovations of this paper are mainly manifested in two aspects:(1)Model method innovation.The three elements of firm heterogeneity,price stickiness and imperfect competition are incorporated into the dynamic stochastic general equilibrium model,instead of only considering a single element.First of all,due to historical and practical reasons,there is great heterogeneity among the various manufacturers engaged in production and operation activities,and the enterprise scale,technology level,resource utilization efficiency and pollutant discharge level are all different.Therefore,when constructing a theoretical model,full consideration should be given to manufacturers Heterogeneity;secondly,due to the existence of menu costs and commercial contracts in business activities,enterprises cannot adjust product prices at any time,so the theoretical model needs to introduce price stickiness;finally,due to differences in enterprise scale and resource endowment,monopoly exists in some industries Competition,this fact should also be fully considered in the modeling process,so that the model built in this way can be more realistic than previous research.(2)The research perspective is innovative.This paper incorporates carbon tax,carbon cap and trade(carbon market),carbon intensity control and other factors into the dynamic general equilibrium model,and analyzes the factors of different emission reduction policies on major macroeconomic variables.The analysis is more comprehensive,and the conclusions of different policies are comparable.