DEMAND OF NATURAL GAS BY THE HOUSEHOLDS

Radev Yuli; Boiadjiev Martin

Radev Yuli Associate Professor PhD, Mining and Geology University ‘St. Iv. Rilski’, dep. Economics and management
Boiadjiev Martin Assistant Professor PhD, Mining and Geology University ‘St. Iv. Rilski’, dep. Oil and Gas

Keywords: natural gas, demand, elasticity, shrinkage estimator

Abstract

The article presents empirical analysis of demand of natural gas in 12 countries from European Union (EU), including Bulgaria. The ultimate goal is to assess the short-term and long-term elasticities of demand in different countries and in Europe as a whole. These elasticities have to give a plausible picture of changing consumption of natural gas by the households and to allow determination and interpretation of the key indicator of the organization of gas sector – the relative price elasticity.
JEL: C23; C50; L95; R22.

References

Бояджиев, М.“Перспективи и предизвикателства пред газовия пазар в България след присъединяването към ЕС”, БАПГ, www.naturalgas.bg, 2007.

Радев, Ю., Теория на неравновесието: Перспективи пред газовия сектор в Европа, ИК „Св. Ив. Рилски”, 2012.

Baltagi, B., J. Griffin, “Pooled Estimators v.s. their Heterogeneous Counterparts in the Context of Dynamic Demand for Gasoline” Journal of Econometrics 77, 303–327, 1997.

Baltagi,B.,EconometricAnalysisofPanelData,2.editionedn,JohnWiley,Chichester,2000.

Baltagi, B., J. Griffin, W. Xiong, “To Pool or not to Pool: Homogeneous versus Heterogeneous Estimators Applied to Cigarette Demand”, The Review of Economic and Statistics 82(1), 117–126, 2000.

Bohi, D., Analyzing Demand Behavior : A Study of Energy Elasticities,Baltimore, The Johns Hopkins University Press, 1981.

Bohi, D., M. Zimmerman, “An Update on Econometric Studies of Energy Demand Behavior”, Annual Review of Energy 9, 105–154, 1984.

Maddala, G., R. Trost, H. Li, and F. Joutz, “Estimation of Short-run and Long-run Elasticities of Energy Demand from Panel Data Using Shrinkage Estimators”, Journal of Business & Economics Statistics 15(1), 90–100, 1997.

Nilsen, O., F. Asche, R. Tveteras, “Energy Demand Elasticities Estimated by Shrinkage Estimators: How Much Confidence Can We Have in Them?”, 25th USAEE/IAEE North American Conference, Denver, United States Association for Energy Economics (USAEE), 2005.

https://www.handytarifevergleich.de/eds-destatis/ , Federal Statistical Office Germany, EDS European Data Service, Berlin.

https://www.iea.org/ .,InternationalEnergyAgency(IEA),No1Energyprices&taxes,No2Natural gas information, No3 Energy Statistics and Energy Balances, Paris.

https://www.imf.org/external/index.htm ., International Monetary Fund (IMF), International financial statistics, Yearbook, Washington, D.C.