Journal
ENERGY ECONOMICS
Volume 59, Issue -, Pages 466-474Publisher
ELSEVIER
DOI: 10.1016/j.eneco.2016.08.025
Keywords
Natural gas; Price; Income; Elasticity; Demand
Categories
Funding
- Australian Research Council [DE160100750]
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Natural gas contributes a growing share of the world's energy mix. In this paper we use national-level data for a sample of 44 countries to estimate the price and income elasticities of natural gas demand. We present both single-equation results and results instrumenting natural gas prices with proved natural gas reserves. Our instrument includes both domestic reserves and distance-weighted reserves in other countries. We obtain estimates of the average long-run price elasticity of natural gas demand of around -1.25 and of the average long-run income elasticity of natural gas demand of +1 and higher. We also present separate estimates for final natural gas demand by industry and households. (C) 2016 Elsevier B.V. All rights reserved.
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