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A survey of energy demand elasticities in support of the development of the NEMS

Dahl, Carol A. (1993): A survey of energy demand elasticities in support of the development of the NEMS.

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Abstract

With NEMS, there has been increased interest in modeling energy markets and a resurgent interest in energy elasticities of demand. Since such elasticities are often a convenient way to summarize the responsiveness of demand to such things as own prices, cross prices, income, or other relevant variables, a substantial amount of resources have been devoted to estimating demand elasticities, at various levels of aggregation using a variety of models. The goal of this project is to survey these works for the U.S. on energy demand elasticities, do a critical analysis of them, attempt to come up with summary elasticities, discuss the scope and breadth of the work that has been done, and make suggestions for further research.

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