The Demand for Electricity and Natural Gas in the Northeastern United States

An estimation was done of the demand for electricity and natural gas in residential, industrial, and commercial sectors of the northeastern part of the US, in the period from 1967-1977. Using apparently unrelated regressions in combination with the error components model, the estimation was made. Na...

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Veröffentlicht in:Rev. Econ. Stat.; (United States) 1981-08, Vol.63 (3), p.403-408
Hauptverfasser: Beierlein, James G., Dunn, James W., McConnon, James C.
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container_title Rev. Econ. Stat.; (United States)
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creator Beierlein, James G.
Dunn, James W.
McConnon, James C.
description An estimation was done of the demand for electricity and natural gas in residential, industrial, and commercial sectors of the northeastern part of the US, in the period from 1967-1977. Using apparently unrelated regressions in combination with the error components model, the estimation was made. Natural gas and electricity were both shown to be price elastic in the long run and inelastic in the short run, in both the residential and industrial sectors, in accordance with the estimated demand models. Natural gas had long-run income elasticity only in the industrial sector. Electricity showed a significant income effect only in the industrial sector. Fuel oil had a generally negative effect. Natural gas demonstrated a faster adjustment to change than electricity due to higher elasticities of adjustment.
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Using apparently unrelated regressions in combination with the error components model, the estimation was made. Natural gas and electricity were both shown to be price elastic in the long run and inelastic in the short run, in both the residential and industrial sectors, in accordance with the estimated demand models. Natural gas had long-run income elasticity only in the industrial sector. Electricity showed a significant income effect only in the industrial sector. Fuel oil had a generally negative effect. 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identifier ISSN: 0034-6535
ispartof Rev. Econ. Stat.; (United States), 1981-08, Vol.63 (3), p.403-408
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1530-9142
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source Jstor Complete Legacy; Periodicals Index Online; JSTOR Mathematics & Statistics; EBSCOhost Business Source Complete
subjects 292000 - Energy Planning & Policy- Supply, Demand & Forecasting
Coefficients
Commercial markets
Demand
DEMAND FACTORS
ECONOMIC ELASTICITY
Economic models
Elasticity of demand
ELECTRIC POWER
Electricity
ENERGY PLANNING, POLICY AND ECONOMY
ENERGY SOURCES
Error rates
Estimation methods
FLUIDS
FOSSIL FUELS
FUEL GAS
Fuel oils
FUELS
GAS FUELS
GASES
Industrial
NATURAL GAS
Natural gas demand
NORTH AMERICA
NORTH ATLANTIC REGION
POWER
Price elasticity
Price elasticity of demand
Regional
Residents
Statistical analysis
Studies
USA
title The Demand for Electricity and Natural Gas in the Northeastern United States
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