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Seasonality, Cointegration, and the Forecasting of Energy Demand

Michael Clements and Reinhard Madlener ()

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

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.

Keywords: COINTEGRATION; ENERGY; SEASONAL FLUCTUATIONS (search for similar items in EconPapers)
JEL-codes: C52 Q41 (search for similar items in EconPapers)
Date: 1997
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Working Paper: SEASONALITY, COINTEGRATION, AND THE FORECASTING OF ENERGY DEMAND (1997) Downloads
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