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標題: A Panel Data Analysis of the Demand for Total Energy and Electricity in OECD Countries
作者: Lee, C.C.
Lee, J.D.
關鍵字: long-run elasticities
unit-root tests
finite-sample properties
cointegration analysis
causal relationship
heterogeneous panels
residential demand
期刊/報告no:: Energy Journal, Volume 31, Issue 1, Page(s) 1-23.
摘要: This paper applies panel unit root, panel cointegration, and panel causality techniques to re-examine the total energy, and electricity demand functions of 25 selected OECD countries during the 1978-2004 period. The panel results indicate that total energy demand is income inelastic and price inelastic, whereas electricity demand is income elastic and price inelastic. Based on the results of the panel causality test, there are reciprocal causal relationships among real income, real energy price, and total energy consumption. Furthermore, a uni-directional causality runs from income and electricity price to electricity consumption. The results for the panel as a whole suggest that the demand for total energy and electricity in the OECD countries is driven largely by strong economic growth, while consumers are largely insensitive to price changes.
ISSN: 0195-6574
Appears in Collections:期刊論文



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