Email this article Εκτιμήσεις της οικιακής ζήτησης ενέργειας στην Ελλάδα την περίοδο 1970-2003
Abstract
This paper with the title “Assessment of residential energy demand in Greece during the
period 1970-2003” attempts to cast light on the main determinants of residential energy demand
in Greece. For this purpose we used cointegration analysis in order to capture short-run and longrun
effects of oil and electricity demand respectively. From the empirical analysis that spans the
period 1970-2003, we find that in the long-run oil and electricity demand appears to be income
elastic and price inelastic respectively. We also find that natural gas, which is taken into account
through the inclusion of a broken trend (1997-2003), appears to affect energy demand and thus the magnitude of the relevant elasticities.
period 1970-2003” attempts to cast light on the main determinants of residential energy demand
in Greece. For this purpose we used cointegration analysis in order to capture short-run and longrun
effects of oil and electricity demand respectively. From the empirical analysis that spans the
period 1970-2003, we find that in the long-run oil and electricity demand appears to be income
elastic and price inelastic respectively. We also find that natural gas, which is taken into account
through the inclusion of a broken trend (1997-2003), appears to affect energy demand and thus the magnitude of the relevant elasticities.
Keywords
Energy demand; Households; Greece
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