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Long-run Study of Residential Water Consumption

机译：居民用水的长期研究

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摘要

The estimation of dynamic models and the measure of long-run effects are rare in residential water demand studies. We show in this paper that a dynamic model of water consumption can be derived from a structural optimisation program solved by local communities. This nonlinear model is estimated on a sample of French municipalities and is found asymptotically equivalent to a dynamic panel data model that is linear in the parameters. The latter includes an original error-component structure that allows for a flexible heterogeneity pattern, including both the usual idiosyncratic effect, and an additional individual effect affected by a multiplicative time-varying parameter. As usual GMM estimators for panel data are not consistent in this case, we propose a new GMM procedure that yields consistent and efficient estimates of short- and long-run price elasticities (respectively ―0.26 and ―0.40).
机译：动态模型的估计和长期影响的度量在住宅用水需求研究中很少见。我们在本文中显示，可以从当地社区解决的结构优化程序中得出用水动态模型。该非线性模型是根据法国市政当局的样本估算的，并且渐近地等效于参数线性的动态面板数据模型。后者包括原始的误差分量结构，该结构允许灵活的异质性模式，包括通常的特质效应和受乘性时变参数影响的其他个体效应。由于在这种情况下，面板数据的常规GMM估计值不一致，因此我们提出了一种新的GMM程序，该程序可以对短期和长期价格弹性产生一致而有效的估计（分别为-0.26和-0.40）。

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