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Estimando la Demanda Residencial por Electricidad en Chile: El Consumo es Sensible al Precio

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

We estimate the demand for electricity by households in Chile. We use a monthly panel of 18 distribution companies, which starts in January 1995 and runs through december 2001. The one-month price elasticity of demand is -0.0548 and -0,39 in the long run.

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Article provided by Instituto de Economía. Pontificia Universidad Católica de Chile. in its journal Cuadernos de Economía-Latin American Journal of Economics.

Volume (Year): 42 (2005)
Issue (Month): 125 ()
Pages: 31-61

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Handle: RePEc:ioe:cuadec:v:42:y:2005:i:125:p:31-61
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  1. 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.
  2. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
  3. 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.
  4. Mount, T.D. & Chapman, L.D., 1974. "Electricity Demand Projections and Utility Capital Requirements," Staff Papers 185798, Cornell University, Department of Applied Economics and Management.
  5. 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.
  6. 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.
  7. 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.
  8. 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.
  9. Frank Windmeijer, 2000. "A finite sample correction for the variance of linear two-step GMM estimators," IFS Working Papers W00/19, Institute for Fiscal Studies.
  10. 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.
  11. 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.
  12. 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.
  13. 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.
  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.
  15. 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.
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