Industry electricity price and output elasticities for high-income and middle-income countries
نویسندگان
چکیده
Abstract Energy planning and climate policy require understanding long-run energy demand patterns. Electricity further is important because services derived from electricity typically do not have substitution possibilities other fuels. By employing dynamic panel models, we estimate the price output elasticities of aggregate industrial for high-income (mostly OECD) middle-income non-OECD) countries. The unbalanced data span 1978–2016 include 35 countries 30 Our estimates address nonstationarity, heterogeneity, cross-sectional dependence. We believe these are first such middle-income/non-OECD among few high-income/OECD to appear in literature. elasticity was significantly below unity, around 0.5, − 0.25 (and statistically significant). For countries, greater than unity likely larger whereas small insignificant
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ژورنال
عنوان ژورنال: Empirical Economics
سال: 2021
ISSN: ['1435-8921', '0377-7332']
DOI: https://doi.org/10.1007/s00181-021-02053-z