Household production and the short and long run demand for electricity英文文献.pdfVIP

Household production and the short- and long-run demand for electricity Gebhard Flaig This paper deals with the residential demand for electricity. A theoretical model is formulated which is based on intertemporal optimization in a household production context. The model is estimated using a dynamic version of the PLS (partial-least- squares) approach. Most important determinants of electricity consumption are the prices of appliances and of thosegoods which can either bepurchased in the market or produced at home. The dynamic interrelationship between capital stock and electricity consumption is also an important element of the estimated model. Keywordr:Energy demand; Household production; Partial least squares Most studies of residential demand for electricity use as dynamic model of electricity demand using data for explanatory variables income and the price of electri- three homogenous groups of private households. city, some also include the user costs of appliance holdings and the prices of alternative fuel types. The A theoretical model of electricity demand theoretical foundation of those studies is the well- known theory ofconsumer behaviour. In this approach The starting po