In this study, we examine the drivers of household energy consumption with a view towards gauging which households are particularly vulnerable to energy price risk. We specifically investigate the relative importance of household socioeconomic characteristics versus dwelling characteristics in explaining per capita gas consumption for space heating. The study draws upon a large random sample of households from the English Housing Survey (EHS) to understand the importance of, and interaction between, household and building characteristics. A multivariate OLS regression is used to identify the relative effects of various consumption drivers on gas used for space heating. The use of standardised coefficients allows for a discussion of the marginal contributions of each factor to energy consumption. The results show that variation in gas usage is largely determined by household socioeconomic characteristics rather than physical dwelling characteristics. This includes the significant influence of household characteristics such as composition (or type), size, employment status, and income. The main contribution of the study is to underline the relative importance of household socioeconomic characteristics over dwelling characteristics in explaining per capita energy consumption. The reported findings challenge the prevailing policy practice, which focusses mostly on dwelling characteristics.
This study examined the relationship between tourism penetration and house prices. We used a very touristic place, Crete, which is a major Greek island, as a case study to test research hypotheses. With data from 2006 to 2012, we constructed tourism indicators for the four prefectures
of Crete. Then by using principal component analysis (PCA) we created a tourism penetration rate (TPR) for each prefecture and ranked them in terms of tourism penetration. In the second stage of the analysis, we performed a hedonic house price regression analysis. We established empirical
findings that (i) the TPR of a prefecture has a significant effect on house prices of the prefecture and (ii) house prices are affected by the TPR of the neighboring prefectures, indicating statistically significant tourism spillover effects. The findings, although significant, show asymmetric
effects that confirm both the impact of tourism penetration on house prices and the presence of spillover effects across Crete Island. Models were tested for robustness across several specifications. The analytical framework drawing from tourism and housing economics literature is repeatable across regions with a significant tourism sector.
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