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Revisiting Residential Demand for Electricity in Greece: New Evidence from the ARDL Approach to Cointegration

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Author Info
Theologos Dergiades () (Department of Economics, University of Macedonia)
Lefteris Tsoulfidis () (Department of Economics, University of Macedonia)

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Abstract

This article reexamines the long-run and short-run determinants of the aggregate residential demand for electricity in Greece using data spanning the period 1964-2006 and the recently advanced ARDL cointegrating procedure that has not been hitherto tried to Greek data. The results of the econometric analysis show the presence of an equilibrium relationship between the variables involved in both the long-run and short-run periods. These findings may shed new light on the contemplation of policies, which direct the residential demand for electricity to desired goals.

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Paper provided by Department of Economics, University of Macedonia in its series Discussion Paper Series with number 2009_12.

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Date of creation: Jun 2009
Date of revision: Jun 2009
Handle: RePEc:mcd:mcddps:2009_12

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Web page: http://econlab.uom.gr/econdep/
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Related research
Keywords: Electricity Demand; ARDL; Cointegration.;

Find related papers by JEL classification:
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions
Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply
Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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  1. 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)
  2. Hondroyiannis, George, 2004. "Estimating residential demand for electricity in Greece," Energy Economics, Elsevier, vol. 26(3), pages 319-334, May. [Downloadable!] (restricted)
  3. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326. [Downloadable!]
  4. 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)
  5. Narayan, Paresh Kumar & Smyth, Russell, 2005. "The residential demand for electricity in Australia: an application of the bounds testing approach to cointegration," Energy Policy, Elsevier, vol. 33(4), pages 467-474, March. [Downloadable!] (restricted)
  6. Dergiades, Theologos & Tsoulfidis, Lefteris, 2008. "Estimating residential demand for electricity in the United States, 1965-2006," Energy Economics, Elsevier, vol. 30(5), pages 2722-2730, September. [Downloadable!] (restricted)
  7. Halicioglu, Ferda, 2007. "Residential electricity demand dynamics in Turkey," Energy Economics, Elsevier, vol. 29(2), pages 199-210, March. [Downloadable!] (restricted)
  8. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254. [Downloadable!] (restricted)
  9. Romilly, Peter & Song, Haiyan & Liu, Xiaming, 2001. "Car Ownership and Use in Britain: A Comparison of the Empirical Results of Alternative Cointegration Estimation Methods and Forecasts," Applied Economics, Taylor and Francis Journals, vol. 33(14), pages 1803-18, November. [Downloadable!] (restricted)
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