Estimation of Short-Run and Long-Run Elasticities of Energy Demand From Panel Data Using Shrinkage Estimators
Bibliographic Data
| ID | 19419288 |
|---|---|
| Authors | G S Maddala (The Ohio State University), Robert P Trost (George Washington University), Hongyi Li (0000-0002-4518-5315, Chinese University of Hong Kong), Frederick Joutz (George Washington University), Frederick L Joutz (George Washington University) |
| Year | 1997 |
| Volume | 15 |
| Issue | 1 |
| Pages | 90-100 |
| Publication date | 1997-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Business and Economic Statistics (JOURNAL) |
| Journal identifiers | ISSN: 0735-0015 • E-ISSN: 1537-2707 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/07350015.1997.10524691 |
| OpenAlex | W2052822845 |
| Language | EN |
| Citations received | 16 |
| References cited | 21 |
This article discusses the problem of obtaining short-run and long-run elasticities of energy demand for each of 49 states in the United States using data for 21 years. Estimation using the time series data by each state gave several wrong signs for the coefficients. Estimation using pooled data was not valid because the hypothesis of homogeneity of the coefficients was rejected. Shrinkage estimators gave more reasonable results. The article presents in a unified framework the classical, empirical Bayes, and Bayes approaches for deriving these estimators
Bayes' theorem · Bayesian probability · Econometrics · Economics · Efficient estimator · Estimation · Estimator · Panel data · Shrinkage · Shrinkage estimator · Statistics · Economics of Agriculture and Food Markets · Energy, Environment, and Transportation Policies · Mathematics · Monetary Policy and Economic Impact
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| Unique citing works | 16 |
|---|---|
| Citations per year | 0,57 |
| Citation span | 1998 - 2026 (29) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 15 |