Underlying energy demand trends in South Korean and Indonesian aggregate whole economy and residential sectors
This paper used annual time series data over the period 1973-2008 to estimate energy demand functions for South Korea and Indonesian aggregated whole economy and Residential sectors. Furthermore, the underlying energy demand trend (UEDT), which may be non-linear and reflects not only technical progress, which usually produces greater energy efficiency, but also other factors such as changes in consumer tastes and the economic structure that may be working in the opposite direction, is also examined in the paper. In estimating the price and income elasticities, the study applies Harvey's structural time series approach where a stochastic trend is used as a proxy for UEDT. Empirical evidence from this study reveals that the estimated long-run income and price elasticities range from 0.58 to 1.15 and from -0.09 to -066, respectively. Furthermore the stochastic form for the UEDT is preferred for both countries and sectors, suggesting a wide variation in the exogenous effects of energy saving technical progress in addition to other pertinent exogenous factors such as economic structure, consumer preferences, and socio-economic influences.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hunt, Lester C. & Judge, Guy & Ninomiya, Yasushi, 2003.
"Underlying trends and seasonality in UK energy demand: a sectoral analysis,"
Elsevier, vol. 25(1), pages 93-118, January.
- Hunt, L.C. & Judge, G. & Ninomiya, Y., 2000. "Underlying Trends and Seasonality in UK Energy Demands: A Sectorial Analysis," Papers 134, Portsmouth University - Department of Economics.
- Lester C Hunt & Guy Judge & Yasushi Ninomiya, 2003.
"Modelling Underlying Energy Demand Trends,"
Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS)
105, Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey.
- Kouris, George, 1983. "Energy consumption and economic activity in industrialized economies--a note," Energy Economics, Elsevier, vol. 5(3), pages 207-212, July.
- I.O. Walker & Franz Wirl, 1993. "Irreversible Price-Induced Efficiency Improvements: Theory and Empirical Application to Road Transportation," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 183-205.
- Lester C. Hunt & Guy Judge & Yashushi Ninomiya, 2000. "Modelling Technical Progress: An Application of the Stochastic Trend Model to UK Energy Demand," Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) 99, Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey.
- Jones, Clifton T, 1994. "Accounting for technical progress in aggregate energy demand," Energy Economics, Elsevier, vol. 16(4), pages 245-252, October.
- Gwo-Hshiung Tzeng, 1989. "Modeling Energy Demand and Socioeconomic Development Of Taiwan," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 133-152.
- Beenstock, Michael & Wilcocks, Patrick, 1983. "Energy and economic activity: a reply to Kouris," Energy Economics, Elsevier, vol. 5(3), pages 212-212, July.
- Mark M. Pitt, 1985. "Estimating Industrial Energy Demand with Firm-Level Data: The Case of Indonesia," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 25-39.
- Ramcharran, Harridutt, 1988. "Residential demand for energy in Jamaica," Energy Economics, Elsevier, vol. 10(3), pages 223-228, July.
- Ibrahim, Ibrahim B. & Hurst, Christopher, 1990. "Estimating energy and oil demand functions : A study of thirteen developing countries," Energy Economics, Elsevier, vol. 12(2), pages 93-102, April.
When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:39:y:2011:i:1:p:40-46. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.