An update on econometric studies of energy demand behavior
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 econmetric studies of energy demand have been published since the appearance of three recent and comprehensive surveys of the literature. It is useful to keep abreast of developments in the literature, because the stock of information about demand continues to develop much like any other capital stock, with existing information in varying stages of obsolescence as new techniques and data bases are developed and exploited. Two kinds of information are conveyed in this body of literature: estimates of how demand behaves, and alternative ways of making the estimates. The information is sometimes bewildering, however, because of the variety of techniques employed and the disparities among the results. The authors' primary interest in this survey, 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 statistical results. The literature on this subject is inherently technical, making it difficult to avoid specialized terminology and concepts. At the same time, nonspecialists are frequently the users of the information contained in econometric demand studies and should be aware of some of the technical issues that affect the reliability of that information.
- Research Organization:
- Resources for the Future, Washington, DC
- OSTI ID:
- 6076284
- Journal Information:
- Annu. Rev. Energy; (United States), Journal Name: Annu. Rev. Energy; (United States) Vol. 9; ISSN AREND
- Country of Publication:
- United States
- Language:
- English
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