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Residential Electricity Revisited

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  • Hendrik S. Houthakker

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: 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, the pooling of annual time series for 48 states using the error component approach of Balestra & Nerlove, 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.

Suggested Citation

  • Hendrik S. Houthakker, 1980. "Residential Electricity Revisited," The Energy Journal, , vol. 1(1), pages 29-42, January.
    • Handle: RePEc:sae:enejou:v:1:y:1980:i:1:p:29-42
    DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-4
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    References listed on IDEAS

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    1. H. S. Houthakker & Philip K. Verleger & Dennis P. Sheehan, 1974. "Dynamic Demand Analyses for Gasoline and Residential Electricity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(2), pages 412-418.
    2. Lester D. Taylor, 1975. "The Demand for Electricity: A Survey," Bell Journal of Economics, The RAND Corporation, vol. 6(1), pages 74-110, Spring.
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    More about this item

    Keywords

    Residential electricity prices; electric utilities; energy policy;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General

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