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Residential Energy Demand in Australia: an Application of Dynamic OLS

Akmal, Muhammad; Stern, David; Akmal, Muhammad; Stern, David

Description

This paper reports estimates of the long-run elasticities of residential demand for electricity, natural gas and other fuels for Australia. The dynamic OLS (DOLS) framework is used to estimate logarithmic demand equations with previously unpublished national-level quarterly data. Significant substitution possibilities are found between electricity and gas and between electricity and other fuels. However, the cross-price elasticity of gas with respect to the price of residual fuels is negative....[Show more]

dc.contributor.authorAkmal, Muhammad
dc.contributor.authorStern, David
dc.contributor.authorAkmal, Muhammad
dc.contributor.authorStern, David
dc.date.accessioned2003-01-14
dc.date.accessioned2004-05-19T10:06:41Z
dc.date.accessioned2011-01-05T08:36:35Z
dc.date.available2004-05-19T10:06:41Z
dc.date.available2011-01-05T08:36:35Z
dc.date.created2001
dc.identifier.urihttp://hdl.handle.net/1885/40556
dc.description.abstractThis paper reports estimates of the long-run elasticities of residential demand for electricity, natural gas and other fuels for Australia. The dynamic OLS (DOLS) framework is used to estimate logarithmic demand equations with previously unpublished national-level quarterly data. Significant substitution possibilities are found between electricity and gas and between electricity and other fuels. However, the cross-price elasticity of gas with respect to the price of residual fuels is negative. Our results are similar to other Australian and North American estimates but are more theoretically consistent than previous Australian estimates. We confirm that Australian residential energy demand is much more price responsive than North American residential energy demand.
dc.format.extent181328 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoen_AU
dc.sourceWorking Papers in Ecological Economics; No. 0104
dc.subjectresidential energy demand
dc.subjectAustralia
dc.subjectelasticities
dc.subjectelectricity
dc.subjectnatural gas
dc.subjectfuel
dc.subjectprice
dc.titleResidential Energy Demand in Australia: an Application of Dynamic OLS
dc.typeWorking/Technical Paper
local.description.refereedno
local.identifier.citationmonthoct
local.identifier.citationyear2001
local.identifier.eprintid778
local.rights.ispublishedyes
local.type.statusPublished version
local.contributor.affiliationANU
local.contributor.affiliationEEP, CRES
CollectionsANU Research Publications

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