The Price Elasticity of Electricity Demand in the United States: A Three-Dimensional Analysis
利用美国各州、行业和年份的三维面板数据，估计短期和长期电力需求价格弹性，发现短期弹性仅为-0.1，需求对价格极不敏感。
In this paper we employ a dataset of three dimensions—state, sector, and year—to estimate the short- and long-run price elasticities of state-level electricity demand in the United States. Our sample covers the period 2003-2015. We contribute to the literature by employing instrumental variable estimation approaches, using the between estimator, and pursuing panel specifications that enable us to control for multiple dimensions of fixed effects. We conclude that state-level electricity demand is very price inelastic in the short run, with a same-year elasticity of -0.1.