Gasoline demand in Greece: the importance of shifts in the underlying energy demand trend

David Broadstock and Eleni Papathanasopoulou

No 141, Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) from Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey

Abstract: This paper explores the relative importance of factors other than price and income in explaining gasoline demand in Greece between 1978 and 2008. Using a structural time series model (STSM) the long-run elasticities of income and price are 0.45 and -0.32 respectively. Further, it is shown using the estimated underlying energy demand trend (UEDT) that other exogenous factors have been shifting the gasoline demand curve to the right, thus reflecting more energy intensive lifestyles in Greece. Given the results it is contended that the kinds of policies that governments can use to manage gasoline demand and move towards sustainable transportation go beyond the usual price mechanism.

Keywords: Motor-gasoline Demand; Sustainable Transportation; Underlying Energy Demand Trend; Household Car Use (search for similar items in EconPapers)
Pages: 34 pages
Date: 2013-03
New Economics Papers: this item is included in nep-ene and nep-tre
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Citations: View citations in EconPapers (2)

Forthcoming in International Journal of Sustainable Transportation (Revised Version)

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Persistent link: https://EconPapers.repec.org/RePEc:sur:seedps:141

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