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Estimating the Demand for Energy in Jordan: A Stock-Watson Dynamic OLS (DOLS) Approach

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  • Ahmed Al-Azzam

    (Surrey Energy Economics Centre (SEEC), Department of Economics, University of Surrey)

  • David Hawdon

    () (Surrey Energy Economics Centre (SEEC), University of Surrey)

Abstract

Recent developments in econometrics provide robust estimators for cointegrated series where sample sizes are small. We estimate the demand for energy in Jordan over the period 1968-1997 using the dynamic OLS method developed by Stock and Watson, and compare the results with conventional forms of cointegration and error correction estimation. Results are found to be robust to various departures from standard regression assumptions and to be stable of the rapid structural changes in the Jordanian economy over the period of the study. Income, construction activity, and political instability are found to impact significantly on consumption, while real price has only a neutral or weak effect. Changes to energy prices on their own are unlikely to achieve current goals for energy conversation.

Suggested Citation

  • Ahmed Al-Azzam & David Hawdon, 1999. "Estimating the Demand for Energy in Jordan: A Stock-Watson Dynamic OLS (DOLS) Approach," Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) 97, Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey.
  • Handle: RePEc:sur:seedps:97
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    Cited by:

    1. Yılmaz, Engin & Süslü, Bora, 2015. "The Calculation of Weighted Price Elasticity of Tax: Turkey (1998-2013)," MPRA Paper 64417, University Library of Munich, Germany, revised 15 Apr 2015.
    2. Iwayemi, Akin & Adenikinju, Adeola & Babatunde, M. Adetunji, 2010. "Estimating petroleum products demand elasticities in Nigeria: A multivariate cointegration approach," Energy Economics, Elsevier, vol. 32(1), pages 73-85, January.
    3. repec:eco:journ2:2017-02-28 is not listed on IDEAS

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