Price elasticities of energy demand have become increasingly relevant in estimating the socioeconomic and environmental effects of energy policies or of other events with influence on the prices of energy goods. Since the 1970s a large number of academic papers have provided both short and long-term price elasticity estimates for different countries by using several models, data and estimation techniques. Yet the literature offers a rather wide range of estimates for the price elasticities of demand for energy. This paper quantitatively summarizes the recent, but still sizeable, empirical evidence on this matter to facilitate a sounder economic assessment of energy price changes. It does so by using meta-analysis to identify the main factors affecting the elasticity results, both short and long term, for energy in general as well as for specific products: electricity, natural gas, gasoline, diesel and heating oil. JEL Classification: C13, C83, Q41This piece of research carries out a meta-analysis with the procedure suggested by Nelson and Kennedy (2009) using the methodology of regression analysis (see also Stanley and Jarrell, 1989), that is, it performs a regression analysis employing the entire set of results selected from the literature and an extensive specification of the factors that determine these elasticities. The paper thus responds to the need to determine, as precisely as possible, the value of price elasticities of demand for energy in general as well as those for the demand of the abovementioned energy goods. As a secondary * . How sensitive to time period sampling is the asymmetric price response specification in energy demand modelling? Energy Economics, 40, 90-109. Agnolucci, P., 2009. The energy demand in the British and German industrial sectors: Heterogeneity and common factors. Energy Economics, 31, 175-187. Agostini, P., Botteon, M., Carraro, C., 1992. A carbon tax to reduce CO 2 emissions in Europe. Energy Economics, 14, 279-290. Ahmadian, M., Chitnis, M., Hunt, L.C., 2007. Gasoline demand, pricing policy and social welfare in the Islamic Republic of Iran, 31, 105-124.Ajanovic, A., Haas, R., 2012. The role of efficiency improvements vs. price effects for modeling passenger car transport demand and energy demand.
Abstract:Cold and heat waves represent a significant problem for the electricity generation sector. The disruptions cold and heat waves can cause in power production are beyond their consumption impacts through, for instance, higher peak demand. Unexpected stops at thermal or nuclear power plants by excessively high-temperature water constitute clear examples of this. In this invited paper, we use past case studies to analyze the impact of these kinds of events on power production. Subsequently we discuss how events of this nature may evolve over the future in view of their association to climate change. Although the review is not exhaustive, we do expose some ideas that may be relevant for decision making in this area.
June 2009 *We are grateful to Iberdrola, the Galician Parliament, the Spanish Ministry of Science and Education and ERDF (projects SEJ2005-08783-C04-04 and SEJ2006-12939) and Xunta de Galicia (project INCITE08PXIB300207PR) for funding this piece of research. We also acknowledge the valuable assistance of Natalia Jorgensen and the comments and suggestions by Francisco Laverón and Gonzalo Sáenz-de-Miera. The authors are also thankful to Iberdrola Distribución S.A. and the Spanish Agency of Meteorology (Ministry of Environmental, Marine and Rural Affairs) for the information provided. However, we are responsible for any error or omission that may remain in the paper. This article only reflects the views of the authors and not necessarily those of the Instituto de Estudios Fiscales.
The Robert Schuman Centre for Advanced Studies (RSCAS), created in 1992 and directed by Professor Brigid Laffan, aims to develop inter-disciplinary and comparative research on the major issues facing the process of European integration, European societies and Europe's place in 21 st century global politics. The Centre is home to a large post-doctoral programme and hosts major research programmes, projects and data sets, in addition to a range of working groups and ad hoc initiatives. The research agenda is organised around a set of core themes and is continuously evolving, reflecting the changing agenda of European integration, the expanding membership of the European Union, developments in Europe's neighbourhood and the wider world.
Equity and efficiency are crucial issues behind any tax reform, but they are particularly relevant in countries with high inequality and large shares of poverty. This paper provides a comprehensive socio-economic empirical assessment of Mexico's proposed (and partially implemented) tax reforms in the energy domain, and of a hypothetical partial removal of existing electricity subsidies. Using a rich household income and expenditure survey within the context of a demand system adjustment of non-durable goods, the article provides the public-revenue, environmental and distributional impacts from the simulation of different combinations of energy taxation, subsidy-removal and distributive offsets. The paper also provides detailed ex-ante evidence on the effects of compensatory devices that may contribute to the successful implementation of energy reform packages and significant poverty alleviation in Mexico.
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