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Short-and long-run elasticities of electricity demand in the Korean service sector

机译：韩国服务业的电力需求的短期和长期弹性

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摘要

This paper attempts to examine the electricity demand function in the Korean service sector using the annual data covering the period 1970-2011. The short- and long-run elasticities of electricity demand with respect to price and income are empirically estimated using a co-integration and error-correction model. The short- and long-run price elasticities are estimated to be -0.421 and -1.002, respectively. The short- and long-run income elasticities are computed to be 0.855 and 1.090, respectively. Electricity demand in the service sector is inelastic to changes in both price and income in the short-run, but elastic in the long-run. Therefore, it appears that a pricing policy is more effective than the direct regulation of reducing electricity demand in the long-run in order to stabilize the electricity demand in the service sector. Moreover, it is necessary to encourage a more efficient use of electricity to cope with increasing demand for electricity following economic growth because the electricity demand in the service sector is income-elastic in the long-run.
机译：本文试图使用涵盖1970-2011年期间的年度数据来检验韩国服务业的电力需求函数。使用协整和误差校正模型凭经验估计电力需求相对于价格和收入的短期和长期弹性。短期和长期价格弹性分别为-0.421和-1.002。计算得出的短期和长期收入弹性分别为0.855和1.090。服务行业的电力需求在短期内对价格和收入的变化没有弹性，而在长期内则具有弹性。因此，从长远来看，为了稳定服务部门的电力需求，价格政策似乎比直接减少电力需求的法规更为有效。此外，有必要鼓励提高电力使用效率，以应对随着经济增长而增长的电力需求，因为从长远来看，服务业的电力需求具有收入弹性。

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  • 来源
    《Energy Policy》 |2014年第4期|517-521|共5页
  • 作者

    Kyoung-Min Lim; Seul-Ye Lim; Seung-Hoon Yoo;

  • 作者单位

    Department of Energy Policy, Graduate School of Energy & Environment, Seoul National University of Science & Technology, 232 Gongreung-Ro, Nowon-Gu Seoul, 139-743, Republic of Korea;

    Department of Energy Policy, Graduate School of Energy & Environment, Seoul National University of Science & Technology, 232 Gongreung-Ro, Nowon-Gu Seoul, 139-743, Republic of Korea;

    Department of Energy Policy, Graduate School of Energy & Environment, Seoul National University of Science & Technology, 232 Gongreung-Ro, Nowon-Gu Seoul, 139-743, Republic of Korea;

  • 收录信息 美国《科学引文索引》(SCI);美国《工程索引》(EI);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Elasticity; Electricity demand in service sector; Error-correction model;

    机译：弹性;服务业的电力需求;纠错模型;

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