The Long-Run Dynamics of Electricity Demand: Evidence from Municipal Aggregation
利用伊利诺伊州250多个社区因自然实验产生的长期电价变化，采用灵活的双重差分匹配方法，发现电力需求的价格弹性在六个月后为-0.09，两年后增至-0.27，强调评估能源政策时需考虑消费动态。
We study the dynamics of residential electricity demand by exploiting a natural experiment that produced large and long-lasting price changes in over 250 Illinois communities. Using a flexible difference-in-difference matching approach, we estimate that the price elasticity of demand grows from − 0.09 in the first six months to − 0.27 two years later. We find similar results with a dynamic model in which usage is a function of past and future prices. Our findings highlight the importance of accounting for consumption dynamics when evaluating energy policy.