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An Update on Econometric Studies of Energy Demand Behavior

An Update on Econometric Studies of Energy Demand Behavior AND SUMMARY A by-product of the energy crisis has been a strong interest in modeling energy demand. Although the crisis has subsided in the last few years, the number of new demand studies has not. At least forty new econometric studies of energy demand have been published since the appearance of three recent and comprehensive surveys of the literature (1-3). It is useful to keep abreast of developments in the literature, as noted by Hartman (2), because the stock of information about demand continues to develop much like any other capital stock, with existing information in varying stages of obsol­ escence as new techniques and data bases are developed and exploited. Two kinds of information are conveyed in this body of literature: (a) esti­ mates of how demand behaves, and (b) alternative ways of making the esti­ mates. The information is sometimes bewildering, however, because of the variety of techniques employed and the disparities among the results. Our primary interest in this survey, like that in Bohi (3), is the sensitivity of statistical results to differences in modeling techniques and sample data. This exercise can serve as a basis for evaluating and choosing among alternative procedures and alternative http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Annual Review of Environment and Resources Annual Reviews

An Update on Econometric Studies of Energy Demand Behavior

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Publisher
Annual Reviews
Copyright
Copyright 1984 Annual Reviews. All rights reserved
Subject
Review Articles
ISSN
1543-5938
DOI
10.1146/annurev.eg.09.110184.000541
Publisher site
See Article on Publisher Site

Abstract

AND SUMMARY A by-product of the energy crisis has been a strong interest in modeling energy demand. Although the crisis has subsided in the last few years, the number of new demand studies has not. At least forty new econometric studies of energy demand have been published since the appearance of three recent and comprehensive surveys of the literature (1-3). It is useful to keep abreast of developments in the literature, as noted by Hartman (2), because the stock of information about demand continues to develop much like any other capital stock, with existing information in varying stages of obsol­ escence as new techniques and data bases are developed and exploited. Two kinds of information are conveyed in this body of literature: (a) esti­ mates of how demand behaves, and (b) alternative ways of making the esti­ mates. The information is sometimes bewildering, however, because of the variety of techniques employed and the disparities among the results. Our primary interest in this survey, like that in Bohi (3), is the sensitivity of statistical results to differences in modeling techniques and sample data. This exercise can serve as a basis for evaluating and choosing among alternative procedures and alternative

Journal

Annual Review of Environment and Resources – Annual Reviews

Published: Nov 1, 1984

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