A meta-analysis on the price elasticity of energy demand

Xavier Labandeira (), Jose Labeaga and Xiral López-Otero
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Xavier Labandeira: Rede (Universidade de Vigo) and European University Institute
Xiral López-Otero: Rede (Universidade de Vigo)

Working Papers from Economics for Energy

Abstract: Price elasticities of energy demand have become increasingly relevant in estimating the socio-economic and environmental effects of energy policies or of other events with influence on the prices of energy goods. Since the 1970s a large number of academic papers have provided both short and long-term price elasticity estimates for different countries by using several models, data and estimation techniques. Yet the literature offers a rather wide range of estimates for the price elasticities of demand for energy. This paper quantitatively summarizes the recent, but still sizeable, empirical evidence on this matter to facilitate a sounder economic assessment of energy price changes. It does so by using meta-analysis to identify the main factors affecting the elasticity results, both short and long term, for energy in general as well as for specific products: electricity, natural gas, gasoline, diesel and heating oil.

Keywords: Keywords: short-term; long-term; electricity; gas; gasoline; diesel; oil (search for similar items in EconPapers)
JEL-codes: C13 C83 Q41 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2015-12
New Economics Papers: this item is included in nep-ene, nep-reg and nep-tre
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Journal Article: A meta-analysis on the price elasticity of energy demand (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:efe:wpaper:04-2015

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