short run price and income elasticity of gasoline demand evidence from lebanon abstract we empirically estimate the demand for gasoline in the presence of multiple shifts caused by structural breaks using monthly data from lebanon covering the period 2000 m1 2010 m12 consistent with most studies in the literature our study reports that gasoline is price and income inelastic in the short run however when a single and multiple breaks are introduced the consumers responsiveness to gasoline price and income increase since both price and income elasticity are sensitive to structural changes a policy that pleads for a flat excise tax may not be optimal with respect to either the cyclical pattern of government revenues or the internalization of international environment standards

energy efficiency investments in the context of split incentives among french households the residential sector offers considerable potential for reducing energy use and greenhouse gas ghg emissions particularly through energy efficient renovations the objective of this study is twofold first i aim to provide initial empirical evidence of the extent to which split incentives between landlords and tenants may lead to underinvestment second i investigate the influence of tax credits and energy burdens on energy efficiency expenditures given the complexity of studying the decision to invest in energy saving renovations i use a bivariate tobit model to compare decisions about energy efficient works and repair works even when the renovation expenditures seem quite similar the analysis shows that tenants are doubly penalized they have high energy expenditures due to energy inefficient building characteristics and because they are poorer than homeowners they are unable to invest in energy saving systems the results also confirm that tax credits are ineffective in the split incentives context in terms of public policy the government should focus on low income tenants and mandatory measures such as minimum standards seem appropriate financial support from a third party financer also might be a solution

estimation on oil demand and oil saving potential of china s road transport sector national social science foundation of china 12zd059 ministry of education 10gbj013 national natural science foundation of china 71203186 fundamental research funds for the central universities 2010221051 national science foundation for disting

mass car ownership in the emerging market giants the typical urban household in china owns a tv a refrigerator a washing machine and a computer but does not yet own a car in this paper we draw on data for a panel of countries and detailed household level surveys for the largest emerging markets to document a remarkably stable relationship between gdp per capita and car ownership highlighting the importance of within country income distribution factors we find that car ownership is low up to per capita incomes of about us 5000 and then takes off very rapidly several emerging markets including india and china the most populous countries in the world are currently at the stage of development when such takeoff is expected to take place we project that the number of cars will increase by 2 3 billion between 2005 and 2050 with an increase by 1 9 billion in emerging market and developing countries we outline a number of possible policy options to deal with the implications for the countries affected and the world as a whole marcos chamon paolo mauro and yohei okawa

demand for gasoline in kuwait an empirical analysis using cointegration techniques abstract this paper estimates the demand for gasoline in kuwait for the period 1970 1989 using a cointegration and error correction model ecm it is found that gasoline demand is inelastic with respect to price in the short and long run and while it is elastic in the long run gasoline demand is inelastic with respect to income in the short run this suggests that gasoline demand response to income changes is higher in the long run than in the short run furthermore gasoline consumption adjusts towards its long run level with about 52 of the adjustment occurring in the first year

energy demand in ghana a disaggregated analysis this paper presents a comprehensive analysis of energy demand in ghana by estimating demand functions for key disaggregated energy components including gasoline diesel liquefied petroleum gas lpg kerosene biomass residual fuel oil rfo and electricity our results show that energy prices income urbanization and economic structure are significant demand drivers of the different energy types in ghana with varying estimated elasticities further there is evidence of high degree of inter fuel substitution in energy demand in ghana particularly from gasoline diesel and kerosene towards lpg consumption we recommend among different policy options a customization of energy price subsidization policies especially on lpg to reduce the unintended beneficiary dilemma or spillover effect of current government policy other policies such as intensification of energy conservation programs and market entry of independent power trading companies to enhance energy service delivery through competition are also discussed

the political economy of opec abstract we develop a conceptual model that captures opec pricing behavior and apply it to explain the large gap observed between domestic fuel prices in opec countries and prices in the rest of the world we model opec as a cartel of nations not firms and assume that politicians use two instruments production quotas and domestic fuel consumption subsidies the cartel of nations model suggests that introduction of alternatives to petroleum products may lead opec to reduce exports and increase domestic fuel consumption the empirical analysis suggests that when opec sets production quotas it places similar weights on consumer and producer surplus but when opec countries set domestic fuel subsidies on average 6 more weight is given to consumer surplus with some of the opec countries pursuing very aggressive domestic cheap fuel policies

energy consumption and energy r d in oecd perspectives from oil prices and economic growth abstract we estimate the short run and long run elasticities of various types of energy consumption and energy r d to changes in oil prices and income of the 20 oecd countries over the period of 1980 2010 using the nerlove partial adjustment model npam we find negative income elasticity for coal consumption but positive income elasticity for oil and gas consumption suggesting the importance of economic growth in encouraging the usage of cleaner energy from coal to oil and gas by introducing time dummies into the regressions we show that climatic mitigation policies are able to promote the usage of cleaner energies through the dynamic linkages between energy consumption and energy r d we find that fossil fuel consumption promotes fossil fuel r d and fossil fuel r d in turn drives its own consumption renewable energy r d which is more responsive to economic growth reduces fossil fuel consumption and hence fossil fuel r d

short run and long run elasticities of import demand for crude oil in turkey abstract the aim of this study is to attempt to estimate the short run and the long run elasticities of demand for crude oil in turkey by the recent autoregressive distributed lag ardl bounds testing approach to cointegration as a developing country turkey meets its growing demand for oil principally by foreign suppliers thus the study focuses on modelling the demand for imported crude oil using annual data covering the period 1980 2005 the bounds test results reveal that a long run cointegration relationship exists between the crude oil import and the explanatory variables nominal price and income but not in the model that includes real price in domestic currency the long run parameters are estimated through a long run static solution of the estimated ardl model and then the short run dynamics are estimated by the error correction model the estimated models pass the diagnostic tests successfully the findings reveal that the income and price elasticities of import demand for crude oil are inelastic both in the short run and in the long run

an investigation of co integration and causality between energy consumption and economic activity in taiwan applying hsiao a version of the granger causality method this paper examines the causality between energy and gnp and energy and employment by applying recently developed techniques of co integration and hsiao s version of the granger causality to taiwanese data for the 1955 1993 period the phillips perron tests reveal that the series with the exception of gnp are not stationary and therefore differencing is performed to secure stationarity the study finds causality running from gdp to energy consumption without feedback in taiwan it is also found that causality runs from gdp to energy but not vice versa

do education and income really explain inequalities in health applying a twin design we apply a twin design to examine the relationship between health and education andincome the estimated associations between health and education and income controlling forunobserved endowments

can personal gasoline permit trading be effective an investigation into permit demand this study proposes a personal gasoline permit trading scheme to limit the total gasoline consumption thus reducing its environmental impact we studied the effectiveness of this scheme by analyzing the permit demand of a gasoline driven vehicle in transportation sector a general utility optimization model is formulated and a cobb douglas utility function is further assumed to analyze the response of permit demand to its price changes with the slutsky decomposition of price effects the results when defined in economic terms indicate that the permit demand of consumers in higher income groups are negatively related to permit price permit demand are also negatively related to permit price for consumers in medium income groups but with positive income effect and the direct relationship between permit demand of lower income groups and the price is defined as a giffen good effect that is for those low income groups when the permit price rises their demand for permits would also increase then us and singapore household expenditure data are used to show comparable results of a pilot personal gasoline permit trading scheme further some regulations on critical parameters such as permit allocation and permit prices in the policy design are proposed to make the scheme feasible in different income groups based on these results implications limitation and suggestions for future study are discussed

the effects of government housing policies in a vintage filtering model abstract long run and short run effects of low income government housing policies are examined in a model that treats housing as a durable good which declines in quality over time short run and long run market equilibria are characterized rent subsidies are analyzed in detail and results for other policies are presented

spatial growth and redevelopment with perfect foresight and durable housing abstract in this paper i present a theoretical model of the spatial growth of an urban area with durable housing i combine several assumptions that typically complicate the analysis i housing developers have perfect foresight ii the initial development and many waves of redevelopment are considered in each developer s plan and iii the closed city assumption is made so that the time path of population is exogenous and that of consumer utility is endogenous i still obtain explicit solutions for the spatial pattern of urban growth and for the timing of the initial residential development and each successive redevelopment at each distance from the urban center i compare perfect foresight growth to growth with static expectations and i examine the comparative statics of both

household energy demand in kenya an application of the linear approximate almost ideal demand system la aids abstract this paper estimates price and fuel expenditure elasticities of demand by applying the linear approximate almost ideal demand system la aids to 3665 households sampled across kenya in 2009 the results indicate that motor spirit premium msp automotive gas oil ago and lubricants are price elastic while fuel wood kerosene charcoal liquefied petroleum gas lpg and electricity are price inelastic kerosene is income elastic while fuel wood charcoal lpg electricity msp and ago are income inelastic the results also reveal fuel stack behaviour that is multiple fuel use among the households main policy implications of the results include increasing the penetration of alternative fuels as well as provision of more fiscal incentives to increase usage of cleaner fuels this not withstanding however the household income should be increased beyond a certain point for the household to completely shift and use a new fuel

gasoline prices gasoline consumption and new vehicle fuel economy evidence for a large sample of countries abstract countries differ considerably in terms of the price drivers pay for gasoline this paper uses data for 132 countries for the period 1995 2008 to investigate the implications of these differences for the consumption of gasoline for road transport to address the potential for simultaneity bias we use both a country s oil reserves and the international crude oil price as instruments for a country s average gasoline pump price we obtain estimates of the long run price elasticity of gasoline demand of between 0 2 and 0 5 using newly available data for a sub sample of 43 countries we also find that higher gasoline prices induce consumers to substitute to vehicles that are more fuel efficient with an estimated elasticity of 0 2 despite the small size of our elasticity estimates there is considerable scope for low price countries to achieve gasoline savings and vehicle fuel economy improvements via reducing gasoline subsidies and or increasing gasoline taxes

energy models for demand forecasting a review abstract energy is vital for sustainable development of any nation be it social economic or environment in the past decade energy consumption has increased exponentially globally energy management is crucial for the future economic prosperity and environmental security energy is linked to industrial production agricultural output health access to water population education quality of life etc energy demand management is required for proper allocation of the available resources during the last decade several new techniques are being used for energy demand management to accurately predict the future energy needs in this paper an attempt is made to review the various energy demand forecasting models traditional methods such as time series regression econometric arima as well as soft computing techniques such as fuzzy logic genetic algorithm and neural networks are being extensively used for demand side management support vector regression ant colony and particle swarm optimization are new techniques being adopted for energy demand forecasting bottom up models such as markal and leap are also being used at the national and regional level for energy demand management

short and long run elasticities in us residential electricity demand a co integration approach abstract co integration techniques show promise in the analysis of short and long run effects of economic variables on energy use we use these techniques to develop an error correction model of annual us residential electricity demand we construct equipment stock indices and estimate the model for 1949 1993 our analysis suggests a structural shift in consumption during the 1960s we discuss reasons for this shift report the short and long run elasticities provide forecasts for 1994 1995 and compare the model s forecasts with other published forecasts

an empirical analysis of gasoline demand in denmark using cointegration techniques abstract danish time series data covering the period 1948 1991 are used in order to estimate short run and long run elasticities in gasoline demand a cointegration test for a stable long run relationship between the variables in the model proves to be positive showing a smaller value of the long run price elasticity than often quoted in empirical studies of gasoline demand finally an error correction model is estimated

gasoline consumption and the stock of motor vehicles an empirical analysis for the swiss economy abstract the demand for gasoline and the stock of cars is empirically explained for the swiss economy by applying statistical methods from modern time series analysis to annual data over the period 1962 1985 the short run price and income elasticities of gasoline consumption are 0 3 to 0 45 and 0 7 the price elasticity became substantially higher after the first opec shock in 1973 pollution control measures introduced in 1982 negatively affected the stock of cars longer run effects operating over changes in the size of the stock and the fuel efficiency of cars are stretched out over several years as shown by a variety of simulation experiments

is the price effect on fuel consumption symmetric some evidence from an empirical study abstract we generally consider that the price elasticity of the energy demand is quite small but it appears that strong increases in gasoline price lead to modifications in consumer behaviors the high volatility of petroleum prices and the strong increases since the beginning of 2000 justify an analysis of price effects on gasoline consumption we estimate the effects of price variations on gasoline consumption in the united states and india we use a co integration modelling to test for long run relationship between gasoline consumption income price and vehicle ownership in the two countries we use an error correction model to test for short run prices effects and more precisely for asymmetric effects on demand of increases and decreases in gasoline prices the main conclusions are the following concerning the united states the long term price elasticity is relatively high for an industrialised country because gasoline taxes are low but we show that households are more sensitive to a price increase than a price decrease about india price elasticity in the long run is quite high but is quite small in the short run it is not surprising for an emergent country it seems that there is no asymmetric effect of price variations on gasoline consumption

empirical assessment of the determinants of road energy demand in greece this paper attempts to cast light on the determinants of road energy demand in greece for this purpose we used cointegration techniques and vector autoregression var analysis in order to capture short run and long run dynamics for gasoline and diesel demand respectively from the empirical analysis that covers the period 1978 2003 we find that in the long run gasoline energy demand appears to be price and income inelastic while diesel demand appears to be price inelastic and income elastic we also found that the absence of close substitutes in the road sector denotes the low level of energy switching in greece

validating energy oriented cge models although cge models have received heavy usage they are often criticized as being insufficiently validated key parameters are often not econometrically estimated and the performance of the model as a whole is rarely checked against historical outcomes as a consequence questions frequently arise as to how much faith one can put in cge results in this paper we employ a novel approach to the validation of a widely utilized global cge model gtap e by comparing the variance of model generated petroleum price distributions driven by historical demand and supply shocks to the model with observed five year moving average price distributions we conclude that energy demand in gtap e is far too price elastic over this time frame after incorporating the latest econometric estimates of energy demand and supply elasticities we revisit the validation question and find the model to perform more satisfactorily as a further check we compare a deterministic global general equilibrium simulation based on historical realizations over the 2001 2006 period during which petroleum prices rose sharply along with growing global energy demands as anticipated by the stochastic simulations the revised model parameters perform much better than the original gtap e parameters in this global general equilibrium context

cointegration and the demand for gasoline since the early 1970s there has been a worldwide upsurge in the price of energy and in particular of gasoline therefore demand functions for energy and its components like gasoline have received much attention however since confidence in the estimated demand functions is important for use in policy and forecasting following amarawickrama h a hunt l c 2008 electricity demand for sri lanka a time series analysis energy economics 33 724 739 this paper estimates the demand for gasoline is estimated with five alternative time series techniques with data from fiji estimates with these alternative techniques are very close and thus increase our confidence in them we found that gasoline demand is both price and income inelastic

the demand for transport fuels in turkey abstract in this paper we estimate the demand for transport fuels in turkey specifically using four different models namely a partial adjustment model a distributed lag model an autoregressive distributed lag model and an error correction model we estimate gasoline and diesel demand functions with quarterly data covering the period 2003 q1 2014 q3 we find a stable long run relationship only for diesel demand income and price our results imply that gasoline demand does not respond to income and price in the long run reflecting a shift from gasoline towards diesel induced by differential tax policies furthermore we find that transport fuel demand is price inelastic making tax on fuel a perfect tool for raising budget revenues in addition our results suggest that fuel demand responds to negative and positive price changes symmetrically

short and long run elasticities of gasoline demand in india an empirical analysis using cointegration techniques abstract in developing countries like india consumption of petroleum products has implications on its balance of payments economic growth and fiscal deficit gasoline is one of the prime petroleum products in this paper the relationship between gasoline demand national income and price of gasoline is empirically examined using cointegration and error correction techniques the time frame of the analysis is from 1972 1973 to 1993 1994 it has been found that gasoline demand is likely to increase significantly for a given increase in the gross domestic product the increase will be larger in the long run 2 682 than in the short run 1 178 gasoline demand is relatively inelastic to price changes both in the long and short terms the error correction model has shown that gasoline demand adjusts to their respective long run equilibrium at a relatively slow rate with about 28 of adjustment taking place in the first year

review of key international demand elasticities for major industrializing economies abstract this paper conducts a selective review of various estimates for energy demand responses focused specially upon lower income industrializing economies rather than richer mature nations it emphasizes recent trends from empirical studies that have been published after 2000 emphasis is placed on the five major emerging or transitional economies in brazil china india mexico and russia although other important nations like chile and south korea are also discussed when studies are available the review focuses attention on the long run responses to changes in prices and income after capital stock turnover has been completed the terminology often refers to elasticities or the percentage change in energy use divided by the percentage change in price or income holding constant all other factors that could influence energy use decisions estimates cover petroleum products natural gas and electricity although the available studies often ignore coal they also include the economy wide impacts real gdp to price changes most studies have focused upon household and transportation use of liquid fuels many fewer studies have investigated fuels used by industry or commerce or for electric generation based upon the available estimates price and income elasticities for liquid fuels are generally less than one unity for many countries and sectors except for the long run income effect for transportation purposes which can range widely by country between 0 24 and 1 75 while averaging 0 94 for all countries

understanding gentrification an empirical analysis of the determinants of urban housing renovation abstract the back to the city phenomenon presented an unpredicted countercurrent in the prevalent tide of suburbanization and this process of upper income resettlement in the inner city has been thoroughly analyzed in the urban economic literature housing renovation a process that always accompanies gentrification and constitutes a significant portion of residential housing investment has been studied much less contrary to the expectation that location matters the existing empirical studies have concluded that most neighborhood amenities and structural attributes are insignificant as determinants of renovation using a detailed parcel level data set that documents all residential renovation activity in chicago between 1995 and 2000 this paper establishes that the characteristics of a building and its neighborhood do indeed influence the likelihood that it will be renovated

time for revisionism on rent control economists traditional hostility to rent contols is based on models that treat the housing market as perfectly competitive and on the experience with hard controls in new york city and many european countries following world war ii the current soft rent control systems in north america are varied and qualitatively different from earlier hard controls the theoretical case against them is weak particularly when the housing market is viewed as imperfectly competitive the empirical case against them is weak too economists should reconsider their blanket opposition to current rent control systems and evaluate them on a case by case basis

electricity demand and conservation potential in the chinese nonmetallic mineral products industry newhuadu business school research fund ministry of education foundation 10jzd0018 10jbg013 china sustainable energy program g 1103 13921 national social science foundation 09zd050

non convexities in continuous time investment theory that non convex preferences or technologies cause problems for economic theory is well known in recent years there have been numerous contributions to the nonconvexity problem in the context of models with a finite dimensional commodity space in the capital theory context non convexities have received explicit treatment in a few papers in two distinguishable ways the problem is cast either in a discrete time framework aoki 1971 rothschild 1971 or in a continuous time framework in which there are implicitly unbounded economies of scale in investment the latter formulation leads to jumps in the state variable or lumpy investment the standard problem treated is one of decreasing costs in the installation of new capacity contributions include chenery 1952 dixit mirrlees and stern 1975 hartwick 1976 manne 1967 srinivasan 1967 starrett 1978 and weitzman 1970 these types of analysis unfortunately ignore some of the most interesting problems associated with non convexities in investment theory in a discrete time framework the important distinction between stocks and flows is blurred while the capacity installation problem by admitting unbounded scale economies excludes the smoothing of state variables that follows by allowing for eventually increasing costs of adjustment in this paper we undertake a systematic examination of non convexities or sometimes non concavities in the context of a classic problem in continuous time investment theory the optimal accumulation of capital by a firm maximizing its present value over an infinite horizon while the results obtained are specific to this particular model we feel that they can be qualitatively extended to any capital theory problem which can be cast in a continuous time optimal control theory framework there are various sorts of non2 convexities which can arise in these problems first there can be either stock or flow non convexities that is non convexities which are introduced into the net benefit function the measure of the flow of benefits at each moment through changes in the capital stock state variable on the one hand or changes in the flow of investment control variable on the other if the benefit and transition functions are not concave in both these variables then necessary conditions are no longer sufficient for optimality and conventional marginal analysis fails non convexities can also be introduced into the value functional which has a stock dimension in order to examine these different sorts of non convexity problems we shall now present the basic economic problem a firm is faced with the problem of maximizing the present value of discounted cash flow over an infinite horizon hence it chooses an investment programme i t to maximize 00

spatial aspects of housing quality density and maintenance this paper is concerned with how housing quality maintenance and structural density and household income vary over location when the housing stock is durable these issues have been investigated before but the models employed have been restrictive for example in brueckner 1981 maintenance expenditures are constrained not to vary through time in sweeney 1974a 1974c the maintenance technology is defined in a way which does not allow upgrading or even holding housing at constant quality and in ho man and pines 1982 there is no clear distinction between construction and maintenance and their model describes a long run accumulation of housing capital as a process of gradual upgrading a similar approach can be found in the nonspatial model of von rabenau 1976 in an earlier paper amott et al 1983 adp hereafter we extended the analysis of landlord builder behavior by allowing the unrestricted construction maintenance policy in this paper we use the model of adp to investigate some spatial aspects of the filtering process in a stationary state housing market in the process we examine the robustness of some results in the literature

trends in income and price elasticities of transport demand 1850 2010 the purpose of this paper is to estimate trends in income and price elasticities and to offer insights for the future growth in transport use with particular emphasis on the impact of energy and technological transitions the results indicate that income and price elasticities of passenger transport demand in the united kingdom were very large 3 1 and 1 5 respectively in the mid nineteenth century and declined since then in 2010 long run income and price elasticity of aggregate land transport demand were estimated to be 0 8 and 0 6 these trends suggest that future elasticities related to transport demand in developed economies may decline very gradually and in developing economies where elasticities are often larger they will probably decline more rapidly as the economies develop because of the declining trends in elasticities future energy and technological transitions are not likely to generate the growth rates in energy consumption that occurred following transitions in the nineteenth century nevertheless energy and technological transitions such as the car and the airplane appear to have delayed and probably will delay declining trends in income and price elasticity of aggregate land transport demand

revealed and stated preferences for co2 emissions reduction the missing link abstract in this paper we combine data collected from two strands of literature dealing with revealed preferences expressed by conventional vehicle drivers for fuel price variation and stated preferences expressed by consumers for alternative fuel vehicles we employ a meta analysis approach drawing data on 30 primary studies reflecting two important policy interventions which are fuel price taxation and subsidies for alternative fuel vehicles this is a new contribution in environmental and energy economics in that we rescale all primary information into a unique index which captures consumers economic attitude towards carbon dioxide co2 emission reduction in monetary terms focusing on the transport sector we compute the implicit price for the avoidance of a kilogram of co2 emissions named pco2 explaining the existing heterogeneity from several points of view the results of the meta analysis show that contextual and individual characteristics influence the implicit price for co2 emissions avoidance this implicit price is on average positive in the case of revealed preferences studies whereas it is negative in the stated preferences studies although there are some important geographical differences our results show that fuel taxes could be an important additional instrument for environmental policy

evaluating a seasonal fuel tax in a mass tourism destination a case study for the balearic islands abstract this paper estimates the monthly aggregate demand for diesel oil and gasoline in a mass tourism region characterized for a high level of seasonality using time series models price elasticities are estimated with special emphasis in evaluating differences between seasons in order to assess the consequences of a fuel tax applied exclusively during the high season using the case study of the balearic islands spain from january 1999 to december 2010 results from a partial adjustment model show a relatively low price elasticity evidencing how the internalizing mechanism that could be argued for introducing the tax in order to reduce transport externalities does not work additionally no statistical differences have been found between seasons for both fuels invalidating the argument that tourism activity reacts differently to host activity

elasticities of transport fuels at times of economic crisis an empirical analysis for spain abstract this paper provides an updated calculation of the price and income responsiveness of spanish consumers of transport fuels with an explicit exploration of the effects of the recent economic crisis we examine separate gasoline and diesel demand models using a set of estimators on a panel of 16 spanish regions over the period 1999 2015 the paper confirms the persistence of low own price elasticities both for diesel and gasoline in the short and long runs it also shows that the crisis of 2008 2013 slightly increased the price elasticity of demand for transport fuels with a higher effect on diesel than on gasoline by contrary the crisis slightly reduced the income elasticity of transport fuel demand given the intensity and length of the economic recession in spain the results of this paper may be useful to anticipate the effects of domestic public policies that impact transport fuel prices as well as to advance some of the potential consequences of crises elsewhere

gasoline demand in the oecd an application of pooling and testing procedures abstract this study utilizes a pooled inter country data set finding the long run price elasticity falls in the range 0 55 to 0 9 depending on the choice of pooled estimators the estimators included the ols within and between country estimators plus five feasible gls estimators even allowing for a ten year distributed lag on price to reflect changes in auto efficiency characteristics the within country estimator yields appreciably more inelastic estimates than did the o s estimator which was heavily influenced by the between or inter country variation this difference raises intriguing questions for future research

road transport energy demand in australia a cointegration approach abstract a cointegration framework is used to examine the short run and long run characteristics of energy demand in the australian road transport sector a lagged endogenous equation based on a partial adjustment process is proposed and estimated results indicate that energy demand output and real energy prices are integrated of order 1 and cointegrated the long run output and price elasticities of energy demand are estimated to be 0 52 and 0 12 respectively causality tests ervealed a bidirectional causality path between output and energy demand and a unidirectional path from energy consumption to prices no other causality paths between output prices and energy demand are detected the short run output elasticity of energy demand is estimated to be 0 25 based on an error correction model the short run price elasticity is found to be insignificant the inertia parameter is 0 48 corresponding to 95 of the demand adjustment occurring after five periods the results are compared with previous findings and the variations are partially attributed to the structural changes in the road transport sector in the 1980s some of which are discussed

estimating the demand for gasoline in developing countries senegal abstract this paper estimates the aggregate demand for gasoline in senegal from 1970 to 2008 the long term and short term elasticities of demand with respect to gasoline prices and income are of paramount interest in this study in senegal rising food prices unemployment and shortage of electric supply are always associated with the spiking cost of world oil prices to understand the external shocks of world oil price and demand for gasoline in senegal this study tested a log linear model against the linear model of the demand for oil function with lagged dependent variables as an explanatory variable here the linear specification of the demand for oil is rejected in this study in favor of the log linear the natural log transformation is typical when using high frequency data and significantly reduces skewness and kurtosis generally in this study i found that short run elasticity is smaller than long run elasticity and gasoline demand is inelastic with respect to both price and income for both the short and long runs in senegal this is why researcher like moosa posits that this assertion can be rationalised on the grounds that oil is such an important commodity that does not have close substitutes at least for its uses 1998 p 3

evidence of asymmetric behavioral responses to changes in gasoline prices and taxes for different fuel types abstract using monthly data from the spanish gasoline retail market we explore asymmetries in consumers behavioral responses to changes in gasoline prices and taxes in particular we are interested in investigating whether an increase in gasoline taxes has a more negative impact on the demand than a similar in magnitude increase in the pre tax price of gasoline for different fuel types we estimate fuel consumers responses using a rich set of robust panel data models considering potential dynamic effects and endogeneity problems we find evidence to confirm the existence of asymmetric responses for the demand of unleaded fuels and agricultural diesel fuel however we cannot support this statement for the regular diesel case for this fuel both the tax exclusive price and the tax elasticities are roughly the same this result agrees with the fact that diesel drivers tend to be better informed about changes in both fuel prices and taxes some implications in terms of fiscal policy and pollution and climate change policy are also discussed

unanticipated shocks and the maintenance and replacement of durable goods abstract this paper investigates how a durable goods owner responds to a once for all unanticipated shock in a stationary state market this problem is examined in the context of housing the circumstances are determined under which a landlord will respond in each of the following five ways i abandon his building immediately ii run down his building optimally and then abandon iii operate his building forever iv demolish his building immediately and reconstruct a new building on the site and v run down his building demolish it and reconstruct a new building on the site the analogous cases for other durable goods should be obvious

housing quality maintenance and rehabilitation this paper investigates a representative landlord s profit maximization problem in a stationary economy the landlord must decide on the quality of his housing units at the time of construction maintenance expenditure over the life of the building and the time of demolition or rehabilitation the analysis can be applied to other problems with similar economic structure notably equipment and durable good maintenance overhaul and replacement

the incidence of fuel taxation in india abstract fuel taxes have returned to centre stage as a potential policy instrument for greenhouse gas abatement on the basis of some studies in developed countries critics have complained that a fuel tax would be regressive this paper uses data from a representative household survey covering more than 124 thousand indian households to examine this claim it finds that a fuel tax would be progressive as would a carbon tax using an input output approach it is found that the progressivity results holds good even when one considers indirect consumption of fuel through its use as an intermediate input sensitivity checks allowing for differing price elasticities of demand between rich and poor confirm this result for most of fuels a tax on kerosene is the only fuel tax that is regressive in all situations

costs of adjustment and the spatial pattern of a growing open city this paper investigates the effect of costs of adjustment on the dynamic characteristics of intra urban resource allocation the analysis is concentrated on the development pattern of an open city within a system of many cities both in steady state and in variable state economies competitive equilibrium of the urban system as a whole is also discussed and compared to pareto optimum allocation some of the results that characterize the resource allocation under static analysis are reestablished for the dynamic case as well but others that follow from comparative statics are shown to be incorrect under the dynamic analysis

measuring global gasoline and diesel price and income elasticities abstract price and income elasticities of transport fuel demand have numerous applications they help forecast increases in fuel consumption as countries get richer they help develop appropriate tax policies to curtail consumption help determine how the transport fuel mix might evolve and show the price response to a fuel disruption given their usefulness it is understandable why hundreds of studies have focused on measuring such elasticities for gasoline and diesel fuel consumption in this paper i focus my attention on price and income elasticities in the existing studies to see what can be learned from them i summarize the elasticities from these historical studies i use statistical analysis to investigate whether income and price elasticities seem to be constant across countries with different incomes and prices although income and price elasticities for gasoline and diesel fuel are not found to be the same at high and low incomes and at high and low prices patterns emerge that allow me to develop suggested price and income elasticities for gasoline and diesel demand for over one hundred countries i adjust these elasticities for recent fuel mix policies and suggest an agenda of future research topics

fuel demand on uk roads and dieselisation of fuel economy abstract because of high oil prices and climate change policy governments are now seeking ways to improve new car fuel economy thus contributing to air quality and energy security one strategy is to increase dieselisation rates of the vehicle fleet recent trends in fuel economy show improvement since 1995 however efforts need to go further if the eu voluntary agreement targets on co 2 a greenhouse gas emission standard are to be achieved trends show diesel car sales have accelerated rapidly and that the advantage of new car fuel economy of diesel cars over gasoline ones is narrowing posing a new challenge we estimate the demand for new car fuel economy in the uk in the long run consumers buy fuel economy but not in the short run we found that long term income and price changes were the main drivers to achieve improvements particularly for diesel cars and that there is no break in the trend of fuel economy induced by the agreement adopted in the 1990s policy should target more closely both consumer choice of and use of diesel cars

optimal housing maintenance under uncertainty abstract in this paper we give the optimal maintenance policy of a building where we let the rent depend on the quality of the building we assume that the quality of the building can be described by a stochastic process on which the maintenance policy has an influence furthermore we give rules for when the landlord has to sell the building or when he has to rent it from these rules it follows that under uncertainty the landlord is more prepared to rent the building than without uncertainty

a co integration analysis of the price and income elasticities of energy demand in turkish agriculture abstract agriculture has an important role in every country s development particularly the contribution of agriculture to development and competitiveness is increasing with agricultural productivity growth productivity in turn is closely associated with direct and indirect use of energy as an input therefore the importance of energy in agriculture cannot be denied as one of the basic inputs to the economic growth process following the importance of energy in turkish agriculture this study aims to estimate the long and short run relationship of energy consumption agricultural gdp and energy prices via co integration and error correction ecm analysis annual data from 1970 to 2008 for diesel and electricity consumptions are utilized to estimate long run and short run elasticities according to ecm analysis for the diesel demand model the long run income and price elasticities were calculated as 1 47 and 0 38 respectively for the electricity demand model income and price elasticities were calculated at 0 19 and 0 72 respectively in the long run briefly in turkey support for energy use in agriculture should be continued in order to ensure sustainability in agriculture increase competitiveness in international markets and balance farmers income