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Empirical Analysis of Demand of Natural Gas by Households in Europe

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  • Yuli Radev

Abstract

The article presents empirical analysis of demand of natural gas in 12 countries from European Union (EU), including Bulgaria, for the period 1989-2008. The ultimate goal is to assess the short-term and long-term elasticities of demand in different countries and in EU as a whole. These elasticities have to give a plausible picture of changing consumption of natural gas by the households and to allow determination and interpretation of the key indicator of the organization of gas sector – the relative price elasticity.

Suggested Citation

  • Yuli Radev, 2012. "Empirical Analysis of Demand of Natural Gas by Households in Europe," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 154-183.
    • Handle: RePEc:bas:econst:y:2012:i:4:p:154-183
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    References listed on IDEAS

    as
    1. Mohammed A. Al-Sahlawi, 1989. "The Demand for Natural Gas: A Survey of Price and Income Elasticities," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 77-90.
    2. Badi H. Baltagi & Georges Bresson & James M. Griffin & Alain Pirotte, 2003. "Homogeneous, heterogeneous or shrinkage estimators? Some empirical evidence from French regional gasoline consumption," Empirical Economics, Springer, vol. 28(4), pages 795-811, November.
    3. Robert S. Pindyck, 1979. "The Structure of World Energy Demand," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661772, April.
    4. Javier Estrada & Ole Fugleberg, 1989. "Price Elasticities of Natural Gas Demand in France and West Germany," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 77-90.
    5. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 38(2), pages 112-134.
    6. Dixit, Avinash K., 1990. "Optimization in Economic Theory," OUP Catalogue, Oxford University Press, edition 2, number 9780198772101.
    7. Baltagi, Badi H. & Griffin, James M., 1997. "Pooled estimators vs. their heterogeneous counterparts in the context of dynamic demand for gasoline," Journal of Econometrics, Elsevier, vol. 77(2), pages 303-327, April.
    8. 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.
    9. Vinod, H. D. & McCullough, B. D., 1994. "Bootstrapping demand and supply elasticities: The Indian case," Journal of Asian Economics, Elsevier, vol. 5(3), pages 367-379.
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    Cited by:

    1. Yuli Radev, 2014. "Natural gas trading in Europe in terms of market disequilibrium," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-18,19-33.

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    More about this item

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities
    • R22 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other Demand

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