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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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Author Info
José Miguel Benavente
Alexander Galetovic
Ricardo Sanhueza
Pablo Serra ()

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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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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. 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, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  2. John A. Nordin, 1976. "A Proposed Modification of Taylor's Demand Analysis: Comment," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 719-721, Autumn. [Downloadable!] (restricted)
  3. Lester D. Taylor, 1975. "The Demand for Electricity: A Survey," Bell Journal of Economics, The RAND Corporation, vol. 6(1), pages 74-110, Spring. [Downloadable!] (restricted)
  4. Rómulo Chumacero & Ricardo Paredes & José Miguel Sánchez, 2000. "Regulación para Crisis de Abastecimiento: Lecciones del Racionamiento Eléctrico en Chile," Cuadernos de Economía (Latin American Journal of Economics), Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 37(111), pages 323-338. [Downloadable!]
  5. 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. [Downloadable!] (restricted)
  6. Chang, Hui S & Hsing, Yu, 1991. "The Demand for Residential Electricity: New Evidence on Time-Varying Elasticities," Applied Economics, Taylor and Francis Journals, vol. 23(7), pages 1251-56, July.
  7. 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.
  8. 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. [Downloadable!] (restricted)
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  9. 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. [Downloadable!] (restricted)
  10. 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. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
  12. 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. [Downloadable!] (restricted)
  13. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July. [Downloadable!] (restricted)
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  14. 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. [Downloadable!]
  15. 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. [Downloadable!]
  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. [Downloadable!] (restricted)
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