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Seasonality, Cointegration, And The Forecasting Of Energy Demand

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  • Clements, Michael P.
  • Madlener, Reinhard

Abstract

Much of the short-run movement in energy demand in the UK appears to be seasonal, and the contribution of long-run factors to short-run forecasts is slight. Nevertheless, using a variety of techniques, including a recently developed test that is applicable irrespective of the orders of integration of the data, we obtain a long-run income elasticity of demand of about one third, and we are unable to reject a zero price elasticity.
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Suggested Citation

  • Clements, Michael P. & Madlener, Reinhard, 1997. "Seasonality, Cointegration, And The Forecasting Of Energy Demand," Economic Research Papers 268766, University of Warwick - Department of Economics.
    • Handle: RePEc:ags:uwarer:268766
    DOI: 10.22004/ag.econ.268766
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    Keywords

    Demand and Price Analysis; Resource /Energy Economics and Policy;

    JEL classification:

    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

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