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Empirical Analysis of Demand of Natural Gas by Households in Europe

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  • Yuli Radev

Abstract

The article presents empirical analysis of demand of natural gas in 12 countries from European Union (EU), including Bulgaria, for the period 1989-2008. The ultimate goal is to assess the short-term and long-term elasticities of demand in different countries and in EU as a whole. These elasticities have to give a plausible picture of changing consumption of natural gas by the households and to allow determination and interpretation of the key indicator of the organization of gas sector – the relative price elasticity.

Suggested Citation

  • Yuli Radev, 2012. "Empirical Analysis of Demand of Natural Gas by Households in Europe," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 154-183.
  • Handle: RePEc:bas:econst:y:2012:i:4:p:154-183
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    References listed on IDEAS

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    1. Badi H. Baltagi & Georges Bresson & James M. Griffin & Alain Pirotte, 2003. "Homogeneous, heterogeneous or shrinkage estimators? Some empirical evidence from French regional gasoline consumption," Empirical Economics, Springer, vol. 28(4), pages 795-811, November.
    2. Robert S. Pindyck, 1979. "The Structure of World Energy Demand," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661772, January.
    3. Javier Estrada & Ole Fugleberg, 1989. "Price Elasticities of Natural Gas Demand in France and West Germany," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 77-90.
    4. Nathaniel Beck, Jonathan N. Katz, 2004. "Random Coefficient models for time-series-cross-section data," Working Papers 1205, California Institute of Technology, Division of the Humanities and Social Sciences.
    5. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 38(2), pages 112-134.
    6. Baltagi, Badi H. & Griffin, James M., 1997. "Pooled estimators vs. their heterogeneous counterparts in the context of dynamic demand for gasoline," Journal of Econometrics, Elsevier, vol. 77(2), pages 303-327, April.
    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. Vinod, H. D. & McCullough, B. D., 1994. "Bootstrapping demand and supply elasticities: The Indian case," Journal of Asian Economics, Elsevier, vol. 5(3), pages 367-379.
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    Cited by:

    1. Yuli Radev, 2014. "Natural gas trading in Europe in terms of market disequilibrium," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-18,19-33.

    More about this item

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities
    • R22 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other Demand

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