The Surrey Energy Economics Centre (SEEC) consists of members of the School of Economics who work on energy economics, environmental economics and regulation. The School of Economics has a long-standing tradition of energy economics research from its early origins under the leadership of Professor Colin Robinson. This was consolidated in 1983 when the University established SEEC, with Colin as the Director; to study the economics of energy and energy markets. SEEC undertakes original energy economics research and since being established it has conducted research across the whole spectrum of energy economics, including the international oil market, North Sea oil & gas, UK & international coal, gas privatisation & regulation, electricity privatisation & regulation, measurement of efficiency in energy industries, energy & development, energy demand modelling & forecasting, and energy & the environment.
SEEC research output includes SEEDS -Surrey Energy Economic Discussion paperSeries and SEERS -Surrey Energy Economic Report Series (details at www.seec.surrey.ac.uk/Research/SEEDS.htm) as well as a range of other academic papers, books and monographs. SEEC also runs workshops and conferences that bring together academics and practitioners to explore and discuss the important energy issues of the day SEEC also attracts a large proportion of the School's PhD students and oversees the MSc in Energy Economics & Policy. Many students have successfully completed their MSc and/or PhD in energy economics and gone on to very interesting and rewarding careers, both in academia and the energy industry.
This paper presents a dynamic form of the Almost Ideal Demand System (AIDS). Three versions of the static AIDS model are employed to determine the preferred long-run equilibrium model and represents the short-run dynamics by an error correction mechanism. This estimation procedure is then applied to alcohol expenditure in Ireland. The estimated point elasticities are consistent with previous studies and a priori expectations. Beer and spirits are found to be price inelastic in both the short and long run. While wine is price inelastic in the short run and price elastic in the long run.
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