Disentangling Temporal Patterns in Elasticities: A Functional Coefficient Panel Analysis of Electricity Demand
Yoosoon Chang (),
Yongok Choi (),
Chang Sik Kim,
Joon Park and
J. Miller ()
No 1320, Working Papers from Department of Economics, University of Missouri
We introduce a panel model with a nonparametric functional coefficient of multiple arguments. The coefficient is a function both of time, allowing temporal changes in an otherwise linear model, and of the regressor itself, allowing nonlinearity. In contrast to a time series model, the effects of the two arguments can be identified using a panel model. We apply the model to the relationship between real GDP and electricity consumption. Our results suggest that the corresponding elasticities have decreased over time in developed countries, but that this decrease cannot be entirely explained by changes in GDP itself or by sectoral shifts.
Keywords: semiparametric panel regression; partially linear functional coefficient model; elasticity of electricity demand (search for similar items in EconPapers)
JEL-codes: C33 C51 C53 Q41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm and nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
Journal Article: Disentangling temporal patterns in elasticities: A functional coefficient panel analysis of electricity demand (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:umc:wpaper:1320
Access Statistics for this paper
More papers in Working Papers from Department of Economics, University of Missouri Contact information at EDIRC.
Bibliographic data for series maintained by Valerie Kulp ().