98/00413 Short and long-run elasticities in US residential electricity demand: a co-integration approach

• Publisher: Elsevier Science
• Year: 1998
• Weight: 198 KB
• Volume: 39
• Category: Article
• ISSN: 0140-6701
• DOI: 10.1016/s0140-6701(97)85684-6

✦ Synopsis

In the analysis of short-and long-run effects of economic variables on energy use, co-integration techniques are promising candidates. These techniques were employed to develop an error correction model of annual US residential electricity demand. Equipment stock indices were compiled and the model for 1949-1993 is estimated. The analysis suggests a structural shift in consumption during the 1960s. Reasons for this shift are discussed, the short-and long-run elasticities are reported, forecasts for 1994-1995 are provided, and the model's forecasts are compared with other published forecasts.