The residential demand for electricity in Australia : an application of the bounds testing approach to cointegration

Narayan, Paresh Kumar and Smyth, Russell 2005, The residential demand for electricity in Australia : an application of the bounds testing approach to cointegration, Energy policy, vol. 33, no. 4, pp. 467-474.

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Title The residential demand for electricity in Australia : an application of the bounds testing approach to cointegration
Author(s) Narayan, Paresh Kumar
Smyth, Russell
Journal name Energy policy
Volume number 33
Issue number 4
Start page 467
End page 474
Total pages 8
Publisher Pergamon
Place of publication Oxford, England
Publication date 2005-03
ISSN 0301-4215
1873-6777
Summary This paper reports estimates of the long- and short-run elasticities of residential demand for electricity in Australia using the bounds testing procedure to cointegration, within an autoregressive distributive lag framework. In the long run, we find that income and own price are the most important determinants of residential electricity demand, while temperature is significant some of the time and gas prices are insignificant. Our estimates of long-run income elasticity and price elasticity of demand are consistent with previous studies, although they are towards the lower end of existing estimates. As expected, the short-run elasticities are much smaller than the long-run elasticities, and the coefficients on the error-correction coefficients are small consistent with the fact that in the short-run energy appliances are fixed.
Language eng
Field of Research 140212 Macroeconomics (incl Monetary and Fiscal Theory)
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2005, Elsevier
Persistent URL http://hdl.handle.net/10536/DRO/DU:30024733

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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