Price and income elasticities of residential and industrial electricity demand in the European Union

Csereklyei, Zsuzsanna

doi:10.1016/j.enpol.2019.111079

Cited by 79 publications

(45 citation statements)

References 53 publications

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“…A new approach in this paper was to apply the between-estimator estimation in order to explore the relationships of the model. In recent years, this method has been a new edge in evaluating the long-run effects of macroeconomic factors (see, for instance, [25][26][27][28]). This methodology, using the time-averaged data, was suitable with the dataset of this study since all independent variables were collapsed at one time.…”

Section: Resultsmentioning

confidence: 99%

COVID-19: A Relook at Healthcare Systems and Aged Populations

Giang

Vuong

2020

Sustainability

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Using data from the WHO’s Situation Report on the COVID-19 pandemic from 21 January 2020 to 30 March 2020 along with other health, demographic, and macroeconomic indicators from the WHO’s Application Programming Interface and the World Bank’s Development Indicators, this paper explores the death rates of infected persons and their possible associated factors. Through the panel analysis, we found consistent results that healthcare system conditions, particularly the number of hospital beds and medical staff, have played extremely important roles in reducing death rates of COVID-19 infected persons. In addition, both the mortality rates due to different non-communicable diseases (NCDs) and rate of people aged 65 and over were significantly related to the death rates. We also found that controlling international and domestic travelling by air along with increasingly popular anti-COVID-19 actions (i.e., quarantine and social distancing) would help reduce the death rates in all countries. We conducted tests for robustness and found that the Driscoll and Kraay (1998) method was the most suitable estimator with a finite sample, which helped confirm the robustness of our estimations. Based on the findings, we suggest that preparedness of healthcare systems for aged populations need more attentions from the public and politicians, regardless of income level, when facing COVID-19-like pandemics.

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Section: Resultsmentioning

confidence: 99%

COVID-19: A Relook at Healthcare Systems and Aged Populations

Giang

Vuong

2020

Sustainability

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“…Both hot and cold weather lead residential customers to increase the use of electricity in this desert economy. The sensitivity of households to extreme weather is more pronounced, and statistically reliable, in Las Cruces than what has been reported for more temperate regions of the global economy (Csereklyei, 2020).…”

Section: Resultsmentioning

confidence: 60%

Residential Electricity Consumption in Las Cruces, New Mexico, USA

Fullerton

Mejía²

2020

RAE

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This study examines how residential electricity consumption (KWHC) reacts to changes in the price of electricity, the price of natural gas, real income per capita, heating degree days, and cooling degree days. Annual frequency data analyzed are for Las Cruces, the second largest metropolitan economy in New Mexico. The sample period is 1977 to 2016. An AutoregressiveDistributed Lag model (ARDL) is employed to obtain long-run and short-run elasticities. In the long-run, residential consumption does not respond in a statistically reliable manner to any of the explanatory variables. All of the coefficient signs are as expected and those for real per capita income and total degree days appear plausible. In the short-run, residential consumption responds reliably to variations in all of the variables except per capita income. Somewhat surprisingly, the short-run results also include an own-price elasticity that is close to zero, implying that residential electricity has a horizontal demand curve in Las Cruces.

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“…(2013) find a long-run income (GDP) elasticity of electricity consumption of 0.9 for Switzerland. Csereklyei (2020) estimates a long-run elasticity of industrial electricity use that ranges between 0.76 and 1.08 for European Union economies. Hence, a 4.6% drop in electricity use as suggested by our estimation implies a 4.3–6.1% decrease in output using these latter estimates.…”

Section: Introductionmentioning

confidence: 99%

Electricity Use as a Real-Time Indicator of the Economic Burden of the COVID-19-Related Lockdown: Evidence from Switzerland

Janzen

Rădulescu

2020

CESifo Economic Studies

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We employ hourly electricity load data for Switzerland as a real-time indicator of the economic effects of the lockdown following the spread of SARS-CoV-2. Our findings reveal that following the drastic lockdown, overall electricity use decreased by 4.6%, with a reduction of even 14.3% in the Canton of Ticino where the number of confirmed cases per capita was one of the highest in Switzerland and also stricter measures such as closures of construction sites and industrial companies were implemented on top of federal regulations. Looking at working days only, we estimate a Swiss-wide decrease in electricity consumption of 7.4%. Assuming industry, services, transport, and agriculture account for 67% of electricity demand, the 4.6% decrease in electricity use implies an almost 7% output reduction in these sectors. In addition, the reduced electricity imports and the change in the generation mix of neighbouring countries, also translates into reduced CO2 emissions related to these imports. (JEL codes: C53, Q4, C3)

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Price and income elasticities of residential and industrial electricity demand in the European Union

Cited by 79 publications

References 53 publications

COVID-19: A Relook at Healthcare Systems and Aged Populations

COVID-19: A Relook at Healthcare Systems and Aged Populations

Residential Electricity Consumption in Las Cruces, New Mexico, USA

Electricity Use as a Real-Time Indicator of the Economic Burden of the COVID-19-Related Lockdown: Evidence from Switzerland

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