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Correction to: Industry electricity price and output elasticities for high-income and middle-income countries

Author

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  • Brantley Liddle

    (National University Singapore)

  • Fakhri Hasanov

    (King Abdullah Petroleum Studies and Research Center)

Abstract

Energy planning and climate policy require understanding long-run energy demand patterns. Electricity demand further is important because energy services derived from electricity typically do not have substitution possibilities from other fuels. By employing dynamic panel models, we estimate the long-run price and output elasticities of aggregate industrial electricity demand for high-income (mostly OECD) and middle-income (mostly non-OECD) countries. The unbalanced data span 1978–2016 and include 35 high-income countries and 30 middle-income countries. Our dynamic panel estimates address nonstationarity, heterogeneity, and cross-sectional dependence. We believe these are the first such panel estimates for middle-income/non-OECD countries and among the few such estimates for high-income/OECD countries to appear in the literature. The output elasticity for high-income countries typically was significantly below unity, around 0.5, and the price elasticity was around − 0.25 (and was statistically significant). For middle-income countries, the output elasticity was greater than unity and was likely significantly larger than the output elasticity for high-income countries, whereas the price elasticity was small and insignificant for middle-income countries.
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Suggested Citation

  • Brantley Liddle & Fakhri Hasanov, 2022. "Correction to: Industry electricity price and output elasticities for high-income and middle-income countries," Empirical Economics, Springer, vol. 62(3), pages 1321-1322, March.
    • Handle: RePEc:spr:empeco:v:62:y:2022:i:3:d:10.1007_s00181-021-02092-6
    DOI: 10.1007/s00181-021-02092-6
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    Cited by:

    1. Liddle, Brantley, 2023. "Is timing everything? Assessing the evidence on whether energy/electricity demand elasticities are time-varying," Energy Economics, Elsevier, vol. 124(C).
    2. Gechert, Sebastian & Mey, Bianka & Prante, Franz & Schäfer, Teresa, 2025. "The Price Elasticity of Heating and Cooling Energy Demand," OSF Preprints 4sjy5_v2, Center for Open Science.
    3. Cruz, Sérgio, 2025. "Income elasticity of electricity demand in the context of Portugal’s energy transition," Utilities Policy, Elsevier, vol. 97(C).
    4. Tran, Nhan Dang & Sahu, Naresh Chandra, 2023. "Asymmetric price response of industrial electricity demand in India," Utilities Policy, Elsevier, vol. 82(C).

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