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
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)
Pages: 34 pages
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https://warwick.ac.uk/fac/soc/economics/research/w ... 95-1998/twerp484.pdf
Working Paper: SEASONALITY, COINTEGRATION, AND THE FORECASTING OF ENERGY DEMAND (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:484
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