Evidence of energy price elasticity would allow for a better understanding of economic, distributional and environmental consequences of varying energy prices. We document the previously unnoticed causal relationship between energy price elasticity and economic transition by modelling energy price elasticity as endogenous to the economic system. The central message is that economic transition promotes incentives and flexibility of micro†units to sufficiently use price signals. Three potential mechanisms are proposed and tested for economic transition affecting the energy price elasticity. The findings provide implications for energy price policies because it reveals how energy consumers respond to energy price changes alongside economic transition.

中文翻译：

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了解经济转型在扩大能源价格弹性中的作用

能源价格弹性的证据将使人们更好地了解变化的能源价格对经济，分配和环境的影响。通过将能源价格弹性建模为经济体系的内生模型，我们记录了能源价格弹性与经济转型之间以前未被注意到的因果关系。中心信息是经济转型促进了微型单位的激励和灵活性，以充分利用价格信号。提出并测试了影响能源价格弹性的经济转型的三种潜在机制。该发现为能源价格政策提供了启示，因为它揭示了能源消费者在经济转型期间如何应对能源价格变化。