Facebook LinkedIn Twitter
Shop

IAEE Members and subscribers to The Energy Journal: Please log in to access the full text article or receive discounted pricing for this article.

Residential Electricity Revisited

Abstract:
The following is a report on various attempts to update and improve an earlier analysis of residential electricity demand (Houthakker, Verleger, and Sheehan, 1974-hereafter referred to as HVS). To understand what is new the reader should first know what has been maintained, namely:1. the logarithmic flow-adjustment model which estimates this year's consumption from last year's consumption, this year's price and income, and possibly (though not in HVS) from other variables,2. the pooling of annual time series for 48 states using the error component approach of Balestra & Nerlove, 3. the use of a "marginal price" for electricity.The present paper may be regarded as a verification of the first of these hypotheses, and to some extent of the other two.

Purchase ( $25 )

Energy Specializations: Electricity – Markets and Prices ; Electricity – Policy and Regulation; Energy and the Economy – Energy as a Productive Input; Energy and the Economy –Economic Growth and Energy Demand; Energy and the Economy – Resource Endowments and Economic Performance; Energy and the Economy – Energy Shocks and Business Cycles

JEL Codes: Q41: Energy: Demand and Supply; Prices, Q40: Energy: General, Q54: Climate; Natural Disasters and Their Management; Global Warming, Q16: Agricultural R&D; Agricultural Technology; Biofuels; Agricultural Extension Services

Keywords: Residential electricity prices, electric utilities, energy policy

DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-4


Published in Volume 1, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.