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Estimando la demanda residencial por electricidad en Chile: a doña Juanita le importa el precio (Calculating the residential demand for electricity in Chile: Mrs. Jones does care about the price)

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  • José Miguel Benavente
  • Alexander Galetovic
  • Ricardo Sanhueza
  • Pablo Serra

    ()

Abstract

En este trabajo estimamos la demanda residencial por energía eléctrica con un panel de 18 distribuidoras de electricidad con datos mensuales entre enero de 1995 y diciembre de 2001. La elasticidad—precio de la demanda residencial por energía eléctrica es -0 ,0548 en un mes y -0 ,39 en el largo plazo. Vale decir si el precio aumenta permanentemente en 10%, al mes siguiente la cantidad demandada disminuye 0 ,548% y 3 ,9% en el largo plazo. Mediante dos ejercicios prácticos mostramos que económicamente estas elasticidades son “grandes”. La contribución metodológica del trabajo consiste en proponer una metodología para estimar paneles dinámicos con datos mensuales y procesos de ajuste no instantáneos donde el número de individuos como el de períodos es “pequeño”.

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Bibliographic Info

Paper provided by Centro de Economía Aplicada, Universidad de Chile in its series Documentos de Trabajo with number 192.

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Date of creation: 2004
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Handle: RePEc:edj:ceauch:192

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  1. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
  2. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  3. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, vol. 108(1), pages 1-24, May.
  4. Rómulo Chumacero & Ricardo Paredes & José Miguel Sánchez, 2000. "Regulación para Crisis de Abastecimiento: Lecciones del Racionamiento Eléctrico en Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 37(111), pages 323-338.
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  6. Sebastian Galiani & Martin Gonzalez-Rozada, 2002. "Inference and estimation in small sample dynamic panel data models," Business School Working Papers treinta, Universidad Torcuato Di Tella.
  7. Ahn, Seung C. & Schmidt, Peter, 1995. "Efficient estimation of models for dynamic panel data," Journal of Econometrics, Elsevier, vol. 68(1), pages 5-27, July.
  8. Glenn D. Westley, 1989. "Nontraditional Partial Adjustment Models and Their Use in Estimating the Residential Demand for Electricity in Costa Rica," Land Economics, University of Wisconsin Press, vol. 65(3), pages 254-271.
  9. Murray, Michael P, et al, 1978. "The Demand for Electricity in Virginia," The Review of Economics and Statistics, MIT Press, vol. 60(4), pages 585-600, November.
  10. Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
  11. Westley, Glenn D, 1984. "Electricity Demand in a Developing Country," The Review of Economics and Statistics, MIT Press, vol. 66(3), pages 459-67, August.
  12. Steve Bond, 2002. "Dynamic panel data models: a guide to microdata methods and practice," CeMMAP working papers CWP09/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  13. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
  14. Donatos, George S. & Mergos, George J., 1991. "Residential demand for electricity: The case of Greece," Energy Economics, Elsevier, vol. 13(1), pages 41-47, January.
  15. Maddala, G S, et al, 1997. "Estimation of Short-Run and Long-Run Elasticities of Energy Demand from Panel Data Using Shrinkage Estimators," Journal of Business & Economic Statistics, American Statistical Association, vol. 15(1), pages 90-100, January.
  16. Ernst R. Berndt & G. Campbell Watkins, 1977. "Demand for Natural Gas: Residential and Commercial Markets in Ontario and British Columbia," Canadian Journal of Economics, Canadian Economics Association, vol. 10(1), pages 97-111, February.
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