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The Long-Run Dynamics of Electricity Demand: Evidence from Municipal Aggregation / Tatyana Deryugina, Alexander MacKay, Julian Reif.
- Format:
- Book
- Author/Creator:
- Deryugina, Tatyana.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w23483.
- NBER working paper series no. w23483
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Long-Run Dynamics of Electricity Demand
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- We study the dynamics of residential electricity demand by exploiting a natural experiment that produced large and long-lasting price changes in over 250 Illinois communities. Using a flexible difference-in-differences matching approach, we estimate that the price elasticity of demand grows from -0:09 in the first six months to -0:27 two years later. We also estimate a more sophisticated model in which usage is a function of past and future prices, and we find similar elasticity patterns. Our findings highlight the importance of accounting for consumption dynamics when evaluating energy policy.
- Notes:
- Print version record
- June 2017.
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